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☆ China kicks off the year on strong note as retail, industrial data tops expectations
▼ + stars: | 2024-03-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Retail sales rose 5.5%, better than the 5.2% increase forecast in a Reuters poll, while industrial production climbed 7%, compared with estimates of 5% growth. Investment into real estate fell by 9% in the first two months of the year from a year ago. National Bureau of Statistics Spokesperson Liu Aihua said that real estate remains in a period of "adjustment," according to a CNBC translation of his statement in Mandarin. New loans in February missed expectations and fell from the prior month, "even after adjusting for seasonality," Goldman Sachs analysts said in a report Friday. Chinese authorities did not reveal significant new support for the massive real estate sector during an annual parliamentary meeting that ended last week.

Persons: Liu Aihua, Liu, Ting Lu, Goldman Sachs, Pan Gongsheng, Goldman Organizations: Pudong New, Investment, National Bureau of, CNBC, China, People's Bank of China, Reuters Locations: Dongyu, Qiantan, Pudong, Pudong New Area, Shanghai, China, BEIJING, Real, Beijing

☆ Short positions in China stocks shrink after regulatory crackdown
▼ + stars: | 2024-03-03 | by ( ) www.cnbc.com time to read: +1 min

Signage for the Shanghai Stock Exchange in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. Short positions in China's stock market shrank by a third in February to their lowest in more than three years, reflecting measures by regulators to curb speculation and boost investor confidence. The data, however, does not capture other short positions via derivatives or stock futures. As part of a raft of measures to revive the market, China's securities watchdog last month suspended brokerages from borrowing shares for lending to short-sellers. In addition, investors were banned from short selling stocks bought on the same day.

Persons: CSI300 Organizations: Shanghai Stock Exchange, China Securities Finance Corp Locations: Lujiazui, Shanghai, China

☆ Chinese firm behind ‘news’ websites pushes pro-Beijing content globally, researchers find
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +3 min

Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. More than 100 websites disguised as local news outlets in Europe, Asia and Latin America are pushing pro-China content in a widespread influence campaign linked to a Beijing public relations firm, digital watchdog Citizen Lab has found. Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. Citizen Lab said the campaign began in mid-2020 and traced the network to public relations firm Shenzhen Haimaiyunxiang Media Co., Ltd., also known as Haimai. But a "press releases" button at a corner of its homepage leads to a range of Chinese state media articles on topics such as China's contribution to the global economic recovery and its push towards technological innovation.

Persons: Alberto Fittarelli, Citizen Lab, Mandiant Organizations: Citizen, Shenzhen Haimaiyunxiang Media, Roma, Times Locations: Lujiazui, Shanghai, China, Toronto, Europe, Asia, America, Beijing, United States, Shenzhen, Washington, Italian

☆ IMF upgrades global growth forecast, citing U.S. resilience and policy support in China
▼ + stars: | 2024-01-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Buildings in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%, up 0.2 percentage points from its prior October projection, followed by 3.2% expansion in 2025. It forecasts growth this year of 2.1% in the U.S., 0.9% in both the euro zone and Japan, and 0.6% in the United Kingdom. "What we've seen is a very resilient global economy in the second half of last year, and that's going to carry over into 2024," the IMF's chief economist, Pierre-Olivier Gourinchas, told CNBC's Karen Tso on Tuesday.

Persons: Pierre, Olivier Gourinchas, Karen Tso Organizations: Monetary Fund, IMF Locations: Lujiazui, Shanghai, China, U.S, Brazil, India, Russia, Japan, United Kingdom

☆ China weighs ending freeze on Boeing purchases with 737 Max deal in US -Bloomberg News
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 12 (Reuters) - China is considering resuming purchases of Boeing's (BA.N) 737 Max aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Boeing is still waiting to resume deliveries of its bestselling 737 MAX to Chinese airlines more than four years after they were halted following two deadly crashes. The company had said that as of the end of June, about 90% of its 737 Max jets in China had resumed commercial operations. Boeing in September slightly increased its annual 20-year forecast for new plane deliveries to China, citing economic growth and increasing demand for domestic travel.

Persons: Gina Raimondo, Aly, Xi Jinping, planemaker, Gokul, Tom Hogue, Gerry Doyle Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Max, APEC, Bloomberg, Boeing, Reuters, U.S, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S, Beijing, Washington, Bengaluru

☆ Time is ripe for another push on carbon pricing
▼ + stars: | 2023-10-24 | by ( Hugo Dixon | ) www.reuters.com time to read: +8 min

Other technologies, such as green hydrogen and carbon capture, are still a long way from maturity. Around 50 countries have some form of carbon price, double the number 10 years ago, and another 23 countries are planning to introduce one. The snag is that China’s carbon price is low and the United States doesn’t have a federal levy. Others argue that governments should combine carbon pricing with financial support for the most vulnerable and targeted subsidies for fledgling technologies. To hit climate targets, the carbon price would need to be $135 a tonne in advanced economies and $45 a tonne in large emerging ones by 2030.

Persons: Jin Mao, Aly, Joe Biden’s, There’s, Rishi Sunak, Michael Jacobs, it’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Financial, REUTERS, Reuters, International Energy Agency, European Union, Global, International Monetary Fund, Reuters Graphics Reuters, British, Pew Research, University of Sheffield, IMF, Africa Climate, United, European, Climate Leadership Council, Thomson Locations: Shanghai, Pudong, China, United States, Paris, Africa, European Union, U.S

☆ Shanghai stock exchange probes Zhejiang King after its public listing halt
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +2 min

A security guard stands at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Oct 8 (Reuters) - The Shanghai Stock Exchange said it will probe Zhejiang King Co Ltd after the Chinese maker of air conditioners halted its initial public offering (IPO) amid media reports about alleged issues such as the overpricing of shares. Zhejiang King on Saturday said it will suspend the new share subscription procedure initially scheduled on Monday because of the media reports, without specifying the nature of those reports. Zhejiang King said in its prospectus published last month that assets related to its air conditioner business were indirectly acquired from a different listed air conditioner company via a series of asset restructuring schemes. Zhejiang King said last month it aimed to raise 2.38 billion yuan ($325.98 million) at 68.07 yuan per share.

Persons: Aly, Zhejiang King, Roxanne Liu, Ryan Woo, Christian Schmollinger Organizations: Shanghai Stock Exchange, REUTERS, Rights, Zhejiang King Co, China Securities Index Co, Thomson Locations: Pudong, Shanghai, China, Rights BEIJING, Zhejiang King, Zhejiang

☆ Tesla signs lease to open vast sales and service centre in Shanghai industrial park
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Oct 7 (Reuters) - Tesla (TSLA.O) has signed a leasing contract with Shanghai Waigaoqiao Free Trade Zone Group (600648.SS) to open a massive sales and service centre in an industrial park in the city, its biggest one in China, the government-owned company said. The company, the world's biggest electric car manufacturer, has nearly 300 stores across China. Reuters reported last year that it was considering closing some showrooms in flashy malls in cities like Beijing. Reporting by Zhang Yan and Brenda Goh; editing by Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Aly, Elon Musk's, Zhang Yan, Brenda Goh, Clelia Organizations: Tesla Shanghai, REUTERS, Rights, Shanghai Waigaoqiao, Trade Zone Group, Reuters, Thomson Locations: Shanghai, China, Xin Park, Shanghai's Pudong, Beijing

☆ Schumer starts China trip amid tension with US, hopes to meet Xi
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

U.S. Senate Majority Leader Chuck Schumer (D-NY), and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China October 7, 2023. The goal of the trip to Asia, which includes stops in South Korea and Japan, is to advance U.S. economic and national security interests, and in China, the group hopes to meet Chinese President Xi Jinping, U.S. officials said. The trip follows visits by a series of high-level Biden administration officials, including Commerce Secretary Gina Raimondo in August. Other senators on the trip include Republicans Bill Cassidy and John Kennedy and Democrats Maggie Hassan and Jon Ossoff. China welcomes Schumer's visit and hopes it will deepen the U.S. Senate's "objective" understanding of China and facilitate dialogue between the nations' legislative agencies, China's foreign ministry said this week.

Persons: Chuck Schumer, Aly, Xi Jinping, Schumer, Biden, Gina Raimondo, Republican Mike Crapo, Bill Cassidy, John Kennedy, Maggie Hassan, Jon Ossoff, Schumer's, Raimondo, Antoni Slodkowski, Robert Birsel Organizations: International, REUTERS, Rights, U.S, Democratic, Republican, Thomson Locations: Shanghai, China, Washington, Beijing, Asia, South Korea, Japan, U.S, Taiwan, Shanghai's Pudong

☆ U.S. senators led by Majority Leader Schumer make first congressional visit to China since 2019
▼ + stars: | 2023-10-07 | by ( ) www.cnbc.com time to read: +3 min

Senator Mike Crapo (R-ID) and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China, on Oct. 7, 2023. A delegation of U.S. lawmakers led by Senate Majority Leader Chuck Schumer arrived in China on Saturday in the first congressional visit to the country since 2019. Asked about his expectations for the visit, Schumer, a New York Democrat, said he hoped it would be productive. The U.S. Commerce Department added the Chinese companies and seven others to its entity list on Friday. A Chinese international relations expert said that Schumer's visit is a sign of improvement in China-U.S. relations.

Persons: Chuck Schumer, Mike Crapo, Joe Biden, Xi Jinping, Idaho Sen, Schumer, Biden, Xi, Wang Yiwei, Karine Jean, Pierre Organizations: International, U.S, Senate, Republicans, Idaho, Senate Finance, New, New York Democrat, U.S . Congress, U.S . Commerce Department, Ukraine, Biden, Economic Cooperation, Institute of International Affairs, Renmin University of China, White House Press Locations: U.S, Shanghai, China, New York, Beijing, Russia, Asia, San Francisco, South Korea, Japan

☆ US Commerce head hopes to make first chips funding awards this fall
▼ + stars: | 2023-10-04 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Oct 4 (Reuters) - U.S. Commerce Secretary Gina Raimondo said Wednesday she hopes to announce the first chips funding award announcements from the government's $39 billion semiconductor subsidy program this fall. "I hope we will have some chips funding announcements this fall." It is not clear how long from initial announcements it will take the Commerce Department to finalize funding agreements. Separately, Raimondo said she supports legislation that would give the Commerce Department new tools to address information and communications technology supply (ICTS) chain concerns posed by China and other foreign adversaries.

Persons: Gina Raimondo, Aly, Raimondo, Mark Warner, John Thune, TikTok, Maria Cantwell, David Shepardson, Diane Craft, Marguerita Choy Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, . Commerce, Senate, Commerce Department, Guard, Thomson Locations: Shanghai Pudong, Shanghai, China

☆ Exclusive: China scrutinizes quant strategies as market weakness stokes public anger - sources
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +4 min

A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. Separately, the Shanghai and Shenzhen stock exchanges, under the CSRC's guidance, have sought information from major quant funds on their money-making strategies, another source said. The weakness has triggered finger-pointing in social media, as well as criticism from fund managers and retail investors against these quant funds and short sellers. Short-selling activities by quant funds could also be caught in the crossfire, he said. Another brokerage source said the CSRC asked them to elaborate on the size of their quant clientele and whether quant trading had impacted recent stock market.

Persons: Aly, shortsellers, Yuan Yuwei, Yang Tingwu, Shri Navaratnam Organizations: Shanghai Stock Exchange, REUTERS, Rights, China Securities Regulatory Commission, Global, Sigma, Huatai Securities, China's, Quant Investment, Yanfu Investments, Shanghai Minghong Investment Management Co, Wisdom Asset, Tongheng Investment, Shanghai, Thomson Locations: Pudong, Shanghai, China, Shenzhen, Winton, Beijing

☆ US has no evidence Huawei can mass produce advanced smartphones
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - The U.S. has no evidence that Chinese manufacturer Huawei can produce smartphones with advanced chips in large volume, U.S. Commerce Secretary Gina Raimondo said on Tuesday. "We don't have any evidence that they can manufacture seven-nanometer (chips) at scale," Raimondo said at a U.S. House hearing, referencing an advanced chip. Raimondo told the House Science Committee hearing she was upset by the advanced Huawei smartphone report. Some Republicans think the Commerce Department should end all technology exports to Huawei and SMIC. Republican Representative Darrell Issa said at the hearing Raimondo was in China when the new Huawei phone was announced.

Persons: Gina Raimondo, Aly, Raimondo, Darrell Issa, Issa, Jake Sullivan, David Shepardson, Chizu Nomiyama, Josie Kao Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, U.S, Huawei, . Commerce, Semiconductor Manufacturing International Corp, HK, Commerce Department, House, Republicans, House Foreign Affairs, Energy, Commerce, Armed Services, Republican, White, National, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S

☆ US Commerce head to meet with CEOs after China trip -sources
▼ + stars: | 2023-09-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - U.S. Commerce Secretary Gina Raimondo expected to meet with the chief executives of major American companies this week, two weeks after a trip to China where she raised concerns about business conditions, sources told Reuters. She said last month she had spoken to more than 100 U.S. company CEOs ahead of her trip to China about difficulties doing business there. Raimondo in China talked up American companies' desire to do business in China and her hopes for further engagement with Chinese officials on market access. On Aug. 30 in Shanghai, Raimondo said she hoped to "see some results" in the next few months as a result of her four-day visit to Beijing and Shanghai.

Persons: Gina Raimondo, Aly, Raimondo, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, . Commerce, Commerce Department, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, U.S, Beijing

☆ Factbox: How China is trying to boost its stock market
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 4 (Reuters) - China is launching a campaign to revive its lagging stock market, and boost investor confidence in an ailing economy. A slew of measures announced include reducing trading costs, slowing the pace of initial public offerings (IPOs), encouraging margin financing and protecting small investors. IMPROVING BEIJING STOCK EXCHANGE:China Securities Regulatory Commission (CSRC) aims to boost liquidity in the market by relaxing investor thresholds and improving trading mechanisms. It will seek to reform and invigorate the market, focusing on funding innovative small companies that specialise in niche sectors. TRANSACTION COSTS:The stamp duty on stock trading was halved on Aug 28, the finance ministry announced.

Persons: Aly, Li Gu, Jason Xue, Tom Westbrook, Simon Cameron, Moore, Lincoln Organizations: Shanghai Stock Exchange, REUTERS, Beijing Stock Exchange, China Securities Regulatory Commission, Thomson Locations: Pudong, Shanghai, China, BEIJING, Singapore

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. "China is making it more difficult," Raimondo told CBS's Face the Nation. "I was very clear with China that we need to - patience is wearing thin among American business. "They suggested that they didn't know about it and they suggested that it wasn't intentional," she told CNN. And certainly they're having real, real significant challenges in the real estate sector," she told Face the Nation.

Persons: Gina Raimondo, Aly, China, Raimondo, CBS's, " Raimondo, Diane Bartz, Phil Stewart, Mary Milliken, Deepa Babington Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Garden Holdings, WASHINGTON, . Commerce, CNN, HK, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, Canada, Mexico, Beijing, Southeast Asia, U.S

Xinhua/Shutterstock‘Absolutely safe’As heavy rains moved toward the region in late July, China’s top flood control officials met to hash out their response plan. The flood was caused by flood water discharge, not by heavy rainfall.”CNN has reached out to the Zhuozhou and Bazhou governments for comment. Rescuers use rubber boats to transfer Zhuozhou residents trapped by flood waters after days of downpours brought by Typhoon Doksuri on August 2. In the recent rains, at least three upstream reservoirs released flood waters into rivers flowing into Baiyingdian from the west and the south, according to state media. Many countries have systems that involve discharging pent up flood waters into otherwise dry land after major storms.

Persons: Xi Jinping, Xi’s, ”, It’s, Xiong’an, Jade Gao, Ni Yuefeng, downpours, Typhoon Doksuri, Zhai Jujia, Li Guoying, Hongzhang Xu, Xiao, Li Na, Zhu Xudong, it’s, Xiong’an –, Xu, Baiyangdian Lake, Kevin Frayer, “, Meili Feng, Simon Song, Deng Xiaoping, Jiang Zemin, Xu Kuangdi, Yi Haifei, Andrew Stokols Organizations: CNN, Xinhua, Getty, Censors, China News Service, China’s, Water, Australian National University, Authorities, China’s Ministry of Water Resources, Hebei Provincial Department of Water Resources, Geographical Sciences, University of Nottingham, Shanghai’s Pudong New, Chinese Academy of Sciences, Urban Computing Center Locations: Beijing, China, Hebei, Xiong’an’s, Xiong'an, Zhuozhou, AFP, Bazhou, Xiong’an, Tianjin, ”, Xinhua, Baiyingdian, Baiyangdian, Mississippi, University of Nottingham Ningbo, “, Hebei province, Shenzhen, Shanghai’s Pudong, Shanghai

☆ Shanghai Exchange urges bankers to closely vet Chinese medical firms IPOs - sources
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

A men wearing a mask walk at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 3, 2020. REUTERS/Aly Song/File PhotoSHANGHAI, Aug 14 (Reuters) - The Shanghai Stock Exchange has urged bankers to pay close attention to the marketing practices of Chinese drug and medical equipment makers seeking initial public offerings (IPOs) amid an escalating anti-corruption drive in the sector, sources said. The Shanghai exchange declined to comment. Bankers should carefully examine if the company, controlling shareholders or actual controllers conduct bribery in marketing activities, the exchange said in the publication. The bourse also asked bankers to check the authenticity of the marketing expenses and urged companies to fully disclose information in their prospectus.

Persons: Aly, Christian Schmollinger Organizations: Shanghai Stock Exchange, REUTERS, bourse, Reuters, Bankers, Shanghai, Thomson Locations: Pudong, Shanghai, China

☆ China's economic challenges gather steam as new loans plunge, property fears loom
▼ + stars: | 2023-08-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Real estate problems persist with once-healthy developer Country Garden now on the brink of default. Real estate dragChina's massive real estate sector, where the majority of household wealth is parked, has reemerged as an area of concern that it could drag down the broader economy. Developer Country Garden announced over the weekend it was suspending trading in at least 10 of its mainland-China traded yuan bonds. The more the government tries to help the real estate industry, the longer it takes for the industry to find a reasonable bottom. State-owned developers have also fared better in terms of recent sales than non-state-owned developers, data show.

Persons: Aly Song, Lu Ting, corporates, Xiangrong Yu, Goldman Sachs, Louis Lau Brandes, Louis Lau Organizations: Bund, Reuters, Nomura, Citi New, Citi, Garden, ., Country Garden's U.S, China U.S, Goldman, Louis Lau Brandes Investment Partners, Brandes Investment Partners Locations: Pudong, Shanghai, China, Reuters BEIJING, Japan, today's China, corporates, State, South Korea

Annual consumer price inflation is expected to show a sharp rebound in July to 6.40% from 4.8%, and a slowdown in wholesale price deflation to -2.4% from -4.1%. Investors and the Bank of Japan, meanwhile, will be paying close attention to Japanese inflation data later in the week. Asian stocks have badly underperformed this year, largely due to worries over China which is battling weak growth, deflation, and capital outflows. The MSCI Asia ex-Japan equity index index has now fallen two weeks in a row for the first time since April, and is up only twice in the last eight weeks. Here are key developments that could provide more direction to markets on Monday:- India consumer inflation (July)- India wholesale inflation (July)- Germany wholesale inflation (July)By Jamie McGeever; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly Song, Jamie McGeever, Diane Craft Organizations: Shanghai Stock Exchange, REUTERS, Tencent, Lenovo, Nasdaq, China's, Bank of Japan, Reuters, Thomson Locations: Pudong, Shanghai, China, New Zealand, Philippines, India, Asia, Japan, Beijing, outflows, Germany

☆ Chinese bourses improve trading mechanism to revive stock market
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File PhotoHONG KONG, Aug 10 (Reuters) - Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors' trading costs and improve liquidity to further stimulate the market. They also came after China's securities regulators nudged mutual fund managers to cut fees to reduce trading costs. More specifically, investors trading stocks or listed funds would be allowed to place orders of a minimum of one share, or one unit. Such a change would reduce investors' costs, enable more efficient use of capital, and help improve market liquidity, the bourses said.

Persons: Aly, HONG KONG, bourses, Samuel Shen, Twinnie Siu, Bernadette Baum, Sam Holmes Organizations: Shanghai Stock Exchange, REUTERS, Thomson Locations: Pudong, Shanghai, China, HONG, Shenzhen, Beijing, Hong Kong

☆ The internet just went on a wild quest that could result in floating trains and cheap EVs
▼ + stars: | 2023-08-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

The internet went wild over claims scientists discovered a room-temperature superconductor. Here's how a room-temperature superconductor could change everything:Revolutionize the medical industryMRI machines currently depend on liquid helium coolant to keep cool enough to operate. A room-temperature superconductor would go a step further in helping create these fields under normal conditions. With room-temperature superconductors, EV makers might be able to take a closer step towards delivering cheap battery-run cars. This is where room-temperature superconductors could one day step in.

Persons: It's, gloriously, Dr Niladri Banerjee, Banerjee, Michael Fuhrer, Massoud Pedram, Eugene Hoshiko, they'd, Jason Laurea, Lawrence, Robert Knopes, Getty Images Elon, Tesla Organizations: Imperial College London, Theory, School of Physics, Monash University, University of Southern, Airport, Lawrence Livermore National Laboratory, MIT's, Science, Fusion Center, Fusion Systems, Getty Images, TechCrunch Locations: South Korea, Australia, University of Southern California, Shanghai, China, Pudong, levitating, Lawrence Livermore

☆ Chinese data center operator Chindata to go private in $3.16 bln deal
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Aug 11 (Reuters) - Chindata Group said on Friday it would go private in a sweetened $3.16 billion deal with investor Bain Capital, ending months of uncertainty over the future of the Chinese data center operator that also received interest from China Merchants Group. It also marks a premium of about 43% to the closing price of Chindata shares before the initial approach was made public. U.S.-listed shares of Chindata, which operates data centers in China, India and Southeast Asia, rose 3% after the bell. Data centers operators have enjoyed a surge in demand in recent years as more businesses take to the web. The go-private deal announced on Friday will be funded through a combination of cash and debt financing provided by Shanghai Pudong Development Bank, Chindata said.

Persons: Chindata, Manya Saini, Shinjini Organizations: Chindata, Bain Capital, China Merchants Group, Nasdaq, China Merchants Capital, Shanghai Pudong Development Bank, Thomson Locations: U.S, Chindata, China, India, Southeast Asia, Bengaluru

A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Sources have told Reuters the Biden administration is likely to adopt new outbound investment restrictions on China in the coming weeks. Japan, the U.S. and Europe have already restricted the sale of high-tech chipmaking tools to Chinese companies while China has hit back by throttling exports of raw materials. To be sure, investment flows often fluctuate and many firms aren't leaving China completely or aren't leaving at all. "A lot of our clients are worried about their exposure to China as a sole country of supply."

Persons: Carlos Barria, Deng Xiaoping, Logan Wright, Biden, John Ramig, Buchalter, Daniel Seeff, Cardigan, Chi Lo, Lee Smith, Baker Donelson, Samuel Shen, Tom Westbrook, Winni Zhou, Jacqueline Wong Organizations: REUTERS, Corporate, China Markets, China's, Administration of Foreign Exchange, Investors, Reuters, Oxford Economics, Ministry of Commerce, Management, Thomson Locations: Pudong, Shanghai, SHANGHAI, SYDNEY, China, Japan, U.S, Europe, Haining, Peru, Hong Kong, Baker, Singapore

☆ Asia markets set to fall ahead of key economic data from China
▼ + stars: | 2023-07-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - MARCH 01: Skyscrapers stand at the Pudong Lujiazui Financial District on March 1, 2022 in Shanghai, China. Asia-Pacific markets are set to fall on Monday as investors look ahead to key economic data out of China, including gross domestic product figures for the second quarter and industrial output numbers for June. In Australia, futures for the S&P/ASX 200 were at 7,264, lower than the index's last close of 7,303.1. The country will release unemployment figures later this week, which will give clues to the Reserve Bank of Australia's rate decisions. Elsewhere, Japan's markets are closed for a holiday, but more trade data will be released from South Korea, Singapore, and Indonesia.

Organizations: Pudong Lujiazui Financial, Beijing, Reserve Bank Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Australia, South Korea, Singapore, Indonesia

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