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☆ Europe may need to impose tariffs of up to 55% to curb Chinese EV imports: report
▼ + stars: | 2024-04-30 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Vehicles set to be shipped to Europe, at Taicang Port on Dec. 19, 2022, in Suzhou, China. The European Union will need to levy higher-than-expected tariffs of up to 55% on Chinese electric vehicles to curb their imports into the bloc, according to a new analysis by Rhodium Group. The findings, released Monday, come amid the EU's ongoing anti-subsidy investigation into EV imports from China. Rhodium Group, which expects the EU to impose tariffs in the 15% to 30% range on Chinese EVs, said those tariffs were unlikely to be enough to check competition from China. Chinese EV makers are locked in an intense price war in their home market.

Persons: Tesla Organizations: Taicang Port, European, Group, EV, EU Locations: Europe, Taicang, Suzhou, China

☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ China opens WTO dispute against U.S. subsidies to protect its EV industry
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +1 min

Vehicles set to be shipped to Europe, at Taicang Port on Dec. 19, 2022, in Suzhou, China. China has initiated dispute settlement proceedings against the United States at the World Trade Organization to safeguard its interests in the electric vehicle industry, the Chinese mission said on Tuesday and the WTO confirmed. China said it was contesting "discriminatory subsidies" under the U.S. Inflation Reduction Act (IRA) that it said resulted in the exclusion of goods from China and other WTO countries. The wide-ranging law provides billions of dollars in tax credits to help consumers buy electric vehicles and companies produce renewable energy, as President Joe Biden aims to decarbonise the mighty U.S. power sector. It said it was launching the proceedings "to safeguard the legitimate interests of Chinese electric vehicle industry and to maintain a fair level playing field of competition for the global market".

Persons: Joe Biden Organizations: Taicang Port, World Trade Organization, WTO, U.S Locations: Europe, Taicang, Suzhou, China, United States

☆ Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice
▼ + stars: | 2024-03-26 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed, Baltimore, Maryland, on March 26, 2024. At the time of the collision, the vessel had two pilots from the Port of Baltimore on board. The steel frame of the Francis Scott Key Bridge lies in the water after it collapsed in Baltimore, Maryland, on March 26, 2024. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. "The collapse of the Baltimore bridge primarily affects coal exports from CNX and CSX terminals," said Madeleine Overgaard, dry market data manager for the global trade data platform Kpler.

Persons: Francis Scott Key, Dali, Roberto Schmidt, Paul Brashier, Brashier, Goetz Alebrand, Wes Moore, Larry, Richard Meade, Meade, Kena Betancur, Andy Lipow, Lipow, Helen Delich Bentley, Judah Levine, Madeleine Overgaard, Levine, Tasos Katopodis Organizations: Afp, Getty Images Logistics, Port, Eastern Seaboard, ITS Logistics, Getty, Americas, DHL Global, Maryland Gov, Baltimore, AFP, Uber Freight, IKEA, Lipow Oil Associates, Maersk, Freightos, CSX, East, Francis Scott Key Bridge Locations: Baltimore , Maryland, Baltimore, New York, New Jersey, Norfolk, Port of Baltimore, Colombo, Sri Lanka, Port, American, Taicang Port, Suzhou, China's, Jiangsu, East Coast, Norfolk , Virginia, Maryland, Midwest, New England, Virginia, North East , Maryland, Gulf Coast, Philadelphia, Suez, CNX, Freightos, Asia, U.S

STR | AFP | Getty ImagesIn the race against Tesla for the global electric car market, Chinese automaker BYD is pushing hard overseas despite rising barriers to the U.S. market. Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly. The U.S. has tried to support adoption of electric cars domestically, but sales penetration is well below that of China. EY predicts the electric car market in the region will grow exponentially to at least $80 billion a year in sales in the next decade. The rapid growth of BYD and other Chinese electric car companies has other automakers worried.

Persons: Tesla, BYD, Xiao Feng, Biden, it's, EY, Alvin Liu, Liu, BYD's, Sime Darby, Stella Li, Reuters BYD, Bill Russo, CNBC's, Li Organizations: AFP, Getty, Toyota, Counterpoint Research, Tesla, Sime, Americas, Reuters, Alliance for American Manufacturing, U.S Locations: Taicang Port, Suzhou, China's, Jiangsu, U.S, Shenzhen, Europe, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, China, Marklines, Southeast Asia, Singapore, Philippines, Malaysia, Mexico, Americas, North America, United States, Canada, Washington

☆ China making 'concerted effort' to dominate critical US ports equipment, Biden official says
▼ + stars: | 2024-02-29 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

SUZHOU, CHINA - FEBRUARY 27: A gantry crane hoists vehicles for export at Taicang Port's International Container Terminal on February 27, 2024 in Suzhou, Jiangsu Province of China. Gene Seroka, executive director of the Port of Los Angeles, told CNBC that Biden's executive order is a wake-up call for the port and supply chain industry. "The bottom line is that today's high-tech cranes can collect data and that is why this executive order is so important," said Seroka. "It's no secret that China has both the capability and the intent to challenge the rules based trade system. The Biden administration has positioned the executive order as part of a "whole government approach" in securing the nation's ports.

Persons: Biden, Christa Brzozowski, ZPMC, Gene Seroka, Brzozowski, Carlos Gimenez, John Vann, Vann, Wayne R, Arguin Jr, Arguin Organizations: Taicang, Getty, Department of Homeland Security, Homeland Security, Coast Guard, Transportation, Maritime Security, Shanghai Zhenhua Heavy Industries Co, Capitol, CNBC, Cyber Security Operations Center, Guard, White, Resilience, of Commerce, Defense, Coast Guard Cyber Command, US Coast Guard, U.S Locations: SUZHOU, CHINA, Suzhou, Jiangsu Province, China, Capitol, United States, U.S, Republic of China, Shanghai, Beijing, Capitol Hill, of Los Angeles, Los Angeles

☆ For some Spring Festival revelers in China, traditional attire adds an element of time travel to celebrations
▼ + stars: | 2024-02-12 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +8 min

For instance, Yu Garden in Shanghai, which hosts a 40-day Spring Festival lantern fair, has become a popular destination for Hanfu fans. The nearby commercial shopping district of Wujiaochang even hosted a Lunar New Year Hanfu parade to attract revelers to the area this year. It too has seen an increase in young tourists wearing traditional attire during visits, according to one local. Embracing traditionA woman wearing Hanfu strolls around the Spring Festival Flower Market in Guangzhou, China, on February 9, 2024. Others say the term “Hanfu” is too narrow, given the fluid sharing of influences among diverse ethnic groups in China.

Persons: they’ve, Taobao, Shanghai's Yu, Yu, influencers, ”, Cai Pa, ” Cai, it’s, Li, John Ricky, Hanfu, she’s Organizations: CNN, CNN — Tourists, Visual China, Getty, CNN Travel Locations: Suzhou, China, Shanghai, Hanfu, Seoul, Yu Garden, Wujiaochang, China’s, Hainan, Haikou, Qilou, Guangzhou, Anhui, gan

☆ China is stepping up to save its economy this year, but the data just doesn't seem to be getting much better
▼ + stars: | 2024-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.

Persons: —, Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia

☆ China rolls out fresh property relief measures to stem the fallout from Evergrande's meltdown
▼ + stars: | 2024-01-31 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Officials in China are boosting property sector relief measures to blunt the impact of Evergrande's collapse. The new measures are part of a wider series of economy-boosting initiatives, especially in the real estate sector, which constitutes one-quarter of the country's economy. The crisis in the property sector stems from huge debt and overbuilding in the last decade, which has resulted in a liquidity crisis for many property developers, including Evergrande. The company's troubles sent country's property sector into a tailspin starting in 2022 when it defaulted on some of its offshore bonds. China is moving mountains to hold the real estate sector's crisis from pouring into other sectors.

Persons: — Organizations: Service, Beijing, China's Ministry of Housing, China Mingsheng Banking Corp, China Securities Journal, Guangzhou, Reuters, Bloomberg Locations: China, Hong Kong, Nanning, Guangxi, Chongqing, Suzhou, Shanghai, restructurings

☆ Asia markets fall as China annual exports drop, Japan bucks the trend to extend record rally
▼ + stars: | 2024-01-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Asia markets fell as China's annual exports dropped for the first time in seven years, but Japan stocks bucked the trend to extend their record rally. Hong Kong's Hang Seng index was down 0.61%, while the mainland China's CSI 300 dipped 0.35% to close at 3,284.17. China's consumer price index fell 0.3%, less than a 0.4% drop expected by a Reuters poll of economists, and also lower than the 0.5% fall seen in November. China's exports for December beat expectations, but overall, total trade declined in 2023 for the world's second largest economy.

Organizations: CSI, Nikkei Locations: Suzhou, Shanghai, China, Asia, Japan

SYDNEY, Nov 15 (Reuters) - Chinese self-driving firm iMotion Automotive Technology is aiming to raise $100 million in its Hong Kong initial public offering (IPO) due to launch in the last week of November, according to two sources with direct knowledge of the matter. iMotion, which was established in 2016, did not immediately respond to a request for comment from Reuters. The Suzhou-based firm is planning to open the books for its IPO the week after next ahead of starting trade on the Hong Kong Stock Exchange (HKEX) in the first week of December, according to the sources. iMotion had planned to raise $300 million, Bloomberg News reported in March, but has cut the size of its new fund raising target. Reporting by Scott Murdoch in Sydney and Yantoultra Ngui in Singapore; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: iMotion, Hong Kong's, Scott Murdoch, Yantoultra, Lincoln Organizations: SYDNEY, iMotion Automotive Technology, Reuters, Hong Kong Stock Exchange, Bloomberg News, Thomson Locations: Hong Kong, iMotion, Suzhou, China, Hong, Sydney, Singapore

BEIJING (AP) — Fifty years after the Philadelphia Orchestra's history-making visit to China in 1973 that helped build then-fledgling U.S.-China ties, Davyd Booth hopes for a repeat performance. The orchestra's trip comes at a fraught time as the world's two largest economies feud over trade, technology, defense and human rights. Booth noted that a number of Chinese play for the Philadelphia Orchestra, and some of the world's top soloists are Chinese. Booth remembers the trip he made as a 23-year-old violinist, when then-music director Eugene Ormandy brought the Philadelphia Orchestra to China at the request of President Richard Nixon, who a year earlier made his own historic visit to the country. Since then, the full orchestra has made 10 more trips to China and is planning to come again next year.

Persons: Davyd Booth, ” Booth, Joe Biden, Xi, Booth, ”, “, Eugene Ormandy, Richard Nixon, Yang Wanming, Caroline Chen Organizations: BEIJING, Philadelphia, “, China National Symphony Orchestra, National Centre, Performing Arts, Biden, Philadelphia Orchestra, Tianjin Julliard School, Chinese People’s Association for Friendship, Foreign, Associated Press Locations: China, U.S, United States, Beijing, San Francisco, Tianjin, Shanghai, Suzhou, America

The orchestra first visited China in September 1973, marking a thaw in U.S.-China relations just as the two nations began normalizing ties after Richard Nixon became the first U.S. president to visit China’s mainland. “This constant 50-year connection with China has been really very deep and very wonderful,” Booth on arriving at Beijing’s Capital International Airport. The ensemble will be performing with the China National Symphony Orchestra at the National Centre for the Performing Arts, starting Friday. Political Cartoons View All 1234 ImagesThe ensemble’s visit coincides with the American Ballet Theatre’s tour in China, which started in Shanghai last week. Until now, the Philadelphia Orchestra had visited China 12 times, most recently in May 2019, before the pandemic.

Persons: Joe Biden, Xi, Richard Nixon, Davyd Booth, ” Booth, Antony Blinken, Janet Yellen, Gina Raimondo, Biden Organizations: BEIJING, Philadelphia Orchestra, Beijing’s Capital International Airport, China National Symphony Orchestra, National Centre, Performing Arts, American Ballet, Economic Cooperation Locations: Beijing, China, China’s, Tianjin, Suzhou, Shanghai, United States, U.S, Washington, Asia, San Francisco

☆ China signals more support for struggling local governments
▼ + stars: | 2023-10-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Future Publishing | Future Publishing | Getty ImagesBEIJING — China on Tuesday took steps toward easing financing conditions for local governments, which have been at the crux of recent economic difficulties. The central government said it formalized a process allowing local governments to borrow funds for the year ahead — starting in the preceding fourth quarter, according to an announcement published by state media. The measure was adopted at a meeting of the National People's Congress Standing Committee, according to state media. The move helps stabilize fiscal policy, said Xu Hongcai, deputy director of the Economics Policy Commission at the China Association of Policy Science. On Tuesday, Chinese authorities also announced the issuance of 1 trillion yuan ($137 billion) in government bonds for natural disaster relief, according to state media.

Persons: —, Xu Hongcai, Zhiwei Zhang Organizations: Workers, Future Publishing, Getty, State Council, National, China Association of Policy, CNBC, International Monetary Fund, IMF, Xinhua Locations: Suzhou, China's Jiangsu, BEIJING, China

☆ CBC Healthcare secures $875 mln for life science investment in China
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 23 (Reuters) - CBC Healthcare Infrastructure Platform (CBC HIP), an independent life science real assets investor in China, said on Saturday it had secured $875 million for its first life science real assets venture called CLSRA Venture I.Abu Dhabi-based sovereign investor Mubadala Investment Company will join existing investors Dutch pension fund APG Asset Management and Asian healthcare asset management firm CBC Group in CBC HIP, according to a company statement. The inclusion of Mubadala as an investor allows CLSRA Venture I to secure further opportunities in the life science real assets sector in China, CBC HIP said. "We will continue to tap the immense potential of life science real assets as a critical component of China's growing healthcare and life science industry," said Hans Kang, Chief Executive Officer of CBC HIP. CLSRA Venture I has so far deployed $450 million across four real estate projects, according to the statement. Since its establishment in November 2021, CLSRA Venture I has acquired some 520,000 square meters of life science real assets in Shanghai, Beijing and Suzhou in China, it added.

Persons: Hans Kang, Yantoultra Ngui, Subhranshu Sahu Organizations: CBC Healthcare, CBC, CLSRA Venture, Mubadala Investment Company, Asset Management, CBC Group, CBC HIP, Thomson Locations: SINGAPORE, China, Abu Dhabi, Shanghai, Beijing, Suzhou

☆ Exclusive: Self-driving startup Plus splits US and China operations amid tensions
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +4 min

SHANGHAI, Oct 11 (Reuters) - Self-driving truck startup Plus has split its Chinese and U.S. operations and struck a deal in which a key shareholder, China's Full Truck Alliance (FTA) (YMM.N), will focus on the China unit, Plus said on Wednesday. Plus, which had headquarters in Suzhou, China, and California, separated its operations into two independent companies. FTA increased its stake in Zhijia Technology via a stock swap arrangement that reduced its ownership in Plus, the company said. Plus declined to comment on the size of FTA's shareholding in Zhijia Technology. The stake in Zhijia Technology will help the company's work to develop autonomous trucking fleets - a potentially lucrative market amid a truck driver shortage in China.

Persons: Uber, Zhang Yan, Roxanne Liu, Brenda Goh Organizations: Alliance, Reuters, U.S, Sequoia, GGV, Zhijia Technology, Technology, New York Stock Exchange, Thomson Locations: SHANGHAI, China, Beijing, U.S, Suzhou, California, Huochebang, United States

☆ Asia markets largely fall despite Wall Street rally
▼ + stars: | 2023-09-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Asia-Pacific markets largely fell despite a broad rebound on Wall Street and Moody's warning that a U.S. government shutdown would be "credit negative" for the world's largest economy. The country's wholesale inflation for its services sector climbed 2.1% year on year, its fastest rate of increase since September 2022. In Australia, the S&P/ASX 200 also shed 0.29% as traders look toward its key consumer price index reading on Wednesday. Hong Kong's Hang Seng index is also set for a positive open, standing at 17,744 compared to the HSI's close of 17,729.29.

Organizations: Nikkei Locations: Suzhou, Shanghai, China, Asia, Pacific, U.S, Australia, South Korea

☆ China considering ban on clothing that ‘hurts feelings’ of nation
▼ + stars: | 2023-09-11 | by ( Chris Lau | ) edition.cnn.com time to read: +5 min

The wording of the draft amendment is reminiscent of language used by Beijing to rein in free speech at home or to hit back at perceived slights by foreign countries and businesses. Several legal scholars have also questioned the implicit vagaries of the proposed amendment and the absence of specific guidelines. “State power directly interferes in the field of individual citizens’ daily clothing, which is obviously an overreaching intervention,” she wrote on Weibo. In the wake of this month’s draft amendment, one Weibo user questioned whether cosplayers or kimono-clad employees of Japanese restaurants might fall afoul of the proposed rules. “Why don’t we wear Chinese tunic suits or Hanfu?” he asked.

Persons: Hong Kong CNN —, ”, Mark Schiefelbein, Tong Zhiwei, ’, Lao Dongyan, meanwhile, Lao Organizations: Hong Kong CNN, country’s Public, AP, East China University of Political Science, Law, Twitter, Beijing’s Tsinghua University Locations: China, Hong Kong, Beijing, Shanghai, Weibo, today’s China, Japan, Suzhou

The Mate 60 is priced from 5,999 yuan ($817.70), the same as Apple's iPhone 14 in China. Huawei's launch also comes days before Apple is expected to launch its new iPhone 15 on Sept. 12.WHO ARE THE MATE 60'S SUPPLIERS? The Mate 60 Pro contains more Chinese-made chip components than previous models, TechInsights also said. WHAT COULD IT MEAN FOR APPLE IN CHINA'S SMARTPHONE MARKET? And cumulative shipments of Mate 60 Pro could reach at least 12 million units 12 months after launch, according to Kuo.

Persons: TechInsights, Chi Kuo, Kuo, Yelin Mo, Brenda Goh, Emelia Sithole Organizations: China's Huawei Technologies, Apple, Huawei, Semiconductor Manufacturing International Corp, HK, WHO, South Korea's SK Hynix's, SK Hynix, Dongguan Chitwing Technology, ., Visionox Technology, Reuters, TF International Securities, Thomson Locations: BEIJING, SHANGHAI, China, Kirin, SMIC, South, United States, Dongguan, Suzhou, U.S, Washington, Beijing

☆ One part of China’s consumer market is holding up against a broad decline
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Customers enjoy food at a new Costco store in Shanghai on the first day of its trial operation on March 10. China News Service | China News Service | Getty ImagesBEIJING — If retail sales slowed this summer, it hasn't felt that way in parts of China. In the weeks around early July, New York residents David and Susan Schwartz visited three Costco stores, known as warehouses, on the outskirts of Shanghai and the neighboring city of Suzhou. China's retail sales slowed to a 2.5% year-on-year increase in July, adding to growing uncertainty about the country's future growth. Chris Reitermann CEO, Ogilvy Asia Pacific and Greater ChinaThe massive property market, where the majority of household wealth is stored, accelerated its decline in July.

Persons: hasn't, Susan Schwartz, David Schwartz, David, Susan, Malin, Goetz, Kate Spade, they're, Chris Reitermann, Ogilvy's Reitermann, Daniel Zipser Organizations: Costco, China News Service, Getty, BEIJING, U.S, Ogilvy Asia Pacific, CNBC, McKinsey Global Institute, Media, McKinsey Locations: Shanghai, China, New York, Suzhou, U.S, Hangzhou, Ningbo, York, Greater China

The mayor of Fukushima, Hiroshi Kohata, said on Saturday the city’s town hall alone had received about 200 such harassment calls in two days. Security officers in front of the Japanese embassy in Beijing, China, on August 26, 2023. In an echo of the Japanese embassy’s statement, it urged Tokyo to protect the safety of Chinese residents in Japan. Many countries, including China, release treated radioactive water from their own nuclear plants, sometimes at higher concentrations than in Fukushima. Other prefectures are considering similar programs, with the Osaka governor proposing Fukushima seafood be served at all government cafeterias.

Persons: China’s, Hiroshi Kohata, It’s, ”, Yasuhiro Matsuda, Yoon Suk Yeol, Han Duck, Yoon, Han, Yuriko Koike, Rahm Emanuel, Matsuda, Xi Jinping, Fumio Kishida Organizations: Tokyo CNN, NHK, CNN, Security, Kyodo, Chinese Foreign Ministry, University of Tokyo’s Institute, Advanced Studies, South, Osaka, US, East China, Reuters Locations: Fukushima, Japan, China, Tokyo, Fukushima prefecture, Beijing, “, Qingdao, China’s Shandong, Suzhou, China’s Jiangsu, Asia, East

☆ Value investing is having a moment in China. Here are some funds that are winning
▼ + stars: | 2023-08-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

They are: BOCIP China Value A Fidelity China Focus A Dist USD Ninety One GSF All China Eq A Acc HKD The first two have a value-style tilt – and not only beat the MSCI China Index in the first half of this year, but also in all of 2022, according to Morningstar. Although both value and growth China funds have generally posted losses over the three years ended July 2023, growth has lagged value by 12% a year, Liang said. However, she was quick to point out that just focusing on a single investment style such as value versus growth isn't enough. In terms of Morningstar's fund ratings — based on factors the firm calls people, process and parent — Schroder's ISF China Opps and FSSA China Growth have gold ratings for strong performance in the "people" and "process" categories. Closely watching valuations helped Schroders China's portfolio manager take some timely profits on "some overheated information technology" stocks, Liang said.

Persons: Warren Buffett, –, Claire Liang, Morningstar's, Liang, Benjamin Graham's, Goldman Sachs, It's, Timothy Moe Organizations: Morningstar, Fidelity, Acc, China, House Research Institute, Netflix, Suzhou Maxwell Technologies Locations: China, Fidelity China, Asia, Suzhou

☆ Alibaba is doubling down on A.I. — Chinese stocks to watch
▼ + stars: | 2023-08-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Where to play it Where HSBC analysts are looking is in Chinese AI hardware stocks. Its customers also include Nvidia and U.S. and Chinese cloud companies. Based on in-person company visits — which revealed about a third had "lousy management" and not investable — he's decided to focus on Chinese AI and green energy companies. His watchlist of about 90 Chinese AI companies has more than doubled in value this year, Ogan said, noting his firm only owns a handful. However, publicly disclosed figures show the AI company only made net revenue of $48.2 million in 2022, with a net loss of $6 million.

Persons: They're, Tencent, Ernie chatbot, Frank He, Innolight, FII, Taylor Ogan, — he's, Ogan, Yuan Hui, Xiao, That's, Yuan, —, China's, Hua Zang, chatbot Organizations: Baidu, HSBC, HSBC Qianhai, Nvidia, Microsoft, Google, Biden, Snow Bull, Nasdaq, IDG Locations: China, Suzhou, Friday's, U.S, Shenzhen, Shanghai, Beijing

The announcement was the first time either of the two – who had both been in military positions outside the Rocket Force – were named as the force’s leadership. Beijing gave no reason for the change, making the case yet another example of the lack of transparency in China’s political system. The newly appointed Rocket Force leadership both previously held deputy positions in other parts of the military. New missile silosThe leadership change comes as evidence points to an expanding Chinese nuclear force – creating an even more important role for the Rocket Force, which until 2016 was known as the PLA Second Artillery Force. They are responsible for handling and delivering China’s nuclear weapons,” said Drew Thompson, a senior research fellow at the Lee Kuan Yew School of Public Policy at the National University of Singapore.

Persons: Xi Jinping, Wang Houbin, Xu Xisheng, Li Yuchao, Qin Gang, Li, Xu Zhongbo, Xu, China’s, ”, Yun Sun, Li Gang, Xi, “, Qin, Wang Yi, Carl Schuster, “ Xi, ” Schuster, Wang, Neil Thomas, Roderick Lee, Drew Thompson, Lee, ” Thompson Organizations: CNN, Liberation Army Rocket Force, Rocket Force, Xinhua, Communist Party, Stimson, Communist Party’s, Military Commission, People’s Liberation Army, PLA, Pacific Command’s Joint Intelligence Center, PLA Navy, Southern Theater Command, Asia Society, Center for, USAF Air University China Aerospace Studies, ” CNN, China’s Ministry of Defense, PLA Second Artillery Force, US Defense Department, Lee Kuan Yew, of Public, National University of Singapore, “ Locations: China, Suzhou, Taiwan, Washington, Beijing, Xinhua, Hawaii, Center for China, United States

Visitor numbers at Hangzhou Zoo have gone up by 30 percent to around 20,000 a day since a video of the Malayan bear, named Angela, became a trending topic on Chinese social media over the weekend, Zhejiang province-based Chao News reported. It was when Angela was standing up that some netizens said she looked like someone wearing a bear suit. The zoo has sought to refute the rumour in posts on its official WeChat account and in interviews with local media, saying that Angela is "definitely not a human". "Our zoo is government-run, so that kind of situation would not happen," a member of staff said, according to local media. Reporting by Martin Quin Pollard; Additional reporting by Jiawei Wang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Angela, Chao, Qian Ming, netizens, Martin Quin Pollard, Jiawei Wang, Raju Gopalakrishnan Organizations: Hangzhou Zoo, Chao News, Hangzhou TV, Weibo, Thomson Locations: BEIJING, China's Zhejiang, Zhejiang province, Suzhou, Hangzhou

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