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HONG KONG, July 5 (Reuters) - Beijing Fourth Paradigm Technology, an AI startup, has completed procedural work for a Hong Kong initial public offering, becoming only one of a handful of companies to get the nod from China's securities regulator since new rules became effective this year. The company has successfully completed the offshore listing filing process,according a July 3 filing on the China Securities Regulatory Commission (CSRC) website. Fourth Paradigm and one other company got the CSRC greenlight on July 3, adding to two other firms this year. Fourth Paradigm, also known as 4Paradigm, filed its fourth IPO application to the Hong Kong Stock Exchange in April. Fourth Paradigm counts Goldman Sachs (GS.N), Sinovation, Haitong International Investment and a number of state-backed funds as investors, the CSRC filing showed.
Persons: Goldman Sachs, Kane Wu, Edwina Gibbs Organizations: Paradigm Technology, Hong, China Securities Regulatory Commission, Hong Kong Stock Exchange, Commerce Department, International Investment, China International Capital Corp, CCB International, China Merchants Securities, Thomson Locations: HONG KONG, Beijing, Hong Kong
China previously "sailed on" economically while other countries struggled, but the world's second largest economy may have a difficult path ahead, according to one strategist. "China has reached that level of its development where a lot of emerging markets typically find the going getting tougher," said Mark Jolley of CCB International Securities. He pointed to the trend of deglobalization, friction between the U.S. and China as well as the weak global economy. "On both sides of the Pacific we hear a lot of wishful thinking that decoupling will promote rather than hurt domestic growth. We disagree," Ethan Harris wrote in a BofA Global Research note published Friday.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's economic outlook will be 'deeply challenging' for the next five to 10 years: StrategistMark Jolley of CCB International Securities says China "sailed on" while other countries struggled in the past, but now, the economic outlook for China looks challenging.
As inflation remains stubbornly high, and volatility in U.S. stocks and bonds persists, one strategist has shared his top ways for investors to protect their income. High inflation increases the chances of the U.S. Federal Reserve raising rates further, which tends to mean a stronger dollar. His picks include the iShares Euro Inflation Linked Government Bond UCITS ETF and the iShares TIPS Bond ETF . That's a bad combination for agricultural output, and high gas prices will contribute to higher fertilizer prices, he added. The 'best sweet spot' As U.S. investors scramble to navigate continued volatility, particularly in stocks, Jolley said the "brave" could consider stocks overseas.
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