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☆ China's imports surprise with growth in October, but exports fall more than expected
▼ + stars: | 2023-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China reported a worse-than-expected drop in exports in October, while imports surprisingly rose for the month from a year ago. China's customs agency said exports in U.S. dollar terms fell by 6.4% in October from a year ago. Imports rose by 3% in U.S. dollar terms in October from a year ago. However, China's imports from the U.S. were down by 3.7% in October versus the year ago period, CNBC calculations of customs data showed. China's imports from the European Union rose by more than 5%, while those from the Association of Southeast Asian Nations grew by 10.2%, the analysis showed.

Organizations: Reuters, European, Association of Southeast Asian Nations Locations: Shenzhen, Guangdong province, China, BEIJING — China, U.S

☆ China's biggest shopping festival is set for a tepid 2023, survey finds
▼ + stars: | 2023-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, which ends Nov. 11. That's according to a survey of more than 3,000 consumers in the country by Bain and Company, released Tuesday. Originally launched by Chinese e-commerce giant Alibaba , Singles Day has expanded from a one-day shopping festival into a multi-week period of shopping promotions across different online platforms in China. Bain estimates that including other platforms, Singles Day e-commerce GMV rose by 3% to 934 billion yuan ($128.25 billion) in 2022. When factoring in another 181 billion yuan in livestreaming and content-led e-commerce, the total GMV for last year's festival topped 1 trillion yuan ($140 billion), the report said.

Persons: Bain, —, James Yang, Yang, Livestreaming Organizations: Nurphoto, Getty, Bain and Company, Bain, Adobe Analytics Locations: Lianyungang, East China's Jiangsu Province, BEIJING, China, Chinese

☆ Warren Buffett keeps selling BYD. Why some analysts still say it’s a buy
▼ + stars: | 2023-11-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's up nearly 50% from where BYD shares closed Friday. In its latest offloading of BYD, Berkshire had sold its shares for an average of 245.86 Hong Kong dollars, according to a filing with the Hong Kong stock exchange . Top brand in China BYD is the top brand that consumers in China consider when buying an electric car, Bernstein analysts said in a Nov. 1 report. First-time car buyers and current owners of traditional Chinese, Korean and U.S. brands are more drawn to buy a BYD car next, the Bernstein analysis found. Jefferies on Oct. 31 raised its price target on BYD to 331 Hong Kong dollars, while reiterating a buy rating.

Persons: Warren, Berkshire Hathaway, BYD, Paul Gong, Gong, Buffett, Wang Chuanfu, Tesla, Bernstein, Jefferies, Charlie Munger, Munger, Elon, — CNBC's Michael Bloom, Alex Crippen Organizations: UBS Global Research, UBS, Hong, CNBC, Tesla Locations: China, Hong Kong, BYD , Berkshire, Berkshire, U.S, Southeast Asia, Europe, Buffett's

☆ Chinese EV startups Xpeng, Li Auto deliver a record number of cars in October
▼ + stars: | 2023-11-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Xpeng reveals its G6 SUV at a major auto show in Shanghai on April 18, 2023. BEIJING — Chinese electric car companies Xpeng and Li Auto each delivered a record number of cars in October, according to company releases late Wednesday. Xpeng said it delivered 20,002 cars last month. Li Auto's monthly deliveries remained far ahead of its immediate peers at 40,422 cars in October. Nio said it delivered 16,074 cars in October, up slightly from the prior month but below the 20,462 vehicle deliveries reported for July.

Persons: Xpeng, Li, Nio Organizations: Li Auto Locations: Shanghai, BEIJING, That's

☆ China sets the tone on real estate, local government support at a high-level meeting
▼ + stars: | 2023-11-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China signaled support for property developers and resolving local government debt problems in a high-level financial meeting that ended Tuesday, according to a state media readout. Such twice-a-decade financial work conferences tend to set long-term policy directions, which then pave the way for more detailed moves. "Policymakers would establish long-term effective mechanism to resolve local government debt and 'optimize the structure of central and local government debt,'" the report said. Beijing began cracking down on property developers' high reliance on debt for growth in 2020. The massive real estate sector has slumped amid developer defaults and falling home sales.

Persons: Goldman Sachs, Maggie Wei Organizations: of, Initiative Locations: Beijing, China, BEIJING — China

☆ Chinese consumer stocks that analysts like for their global potential
▼ + stars: | 2023-10-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"We expect Miniso to report another strong quarter in 1QFY24," Jefferies analysts wrote in an Oct. 24 report. Xiaomi shares are up more than 20% so far this year despite a more than 10% slump in the broader Hong Kong stock market. "We believe good shipment momentum and resilient margins could support a strong 3Q23," the Morgan Stanley report said. The analysts have an overweight rating on Xiaomi shares with a 15 Hong Kong dollar price target — up 11% from Friday's close. Shares of Transsion, not covered in the Morgan Stanley report, are up nearly 70% so far this year.

Persons: Miniso, Jefferies, Xiaomi, Morgan Stanley, Canalys, Morgan, Andre Chang, Chang, —, JD.com —, — CNBC's Michael Bloom Organizations: Hong Kong Locations: 1QFY24, China, New York, Hong Kong, Canalys, Friday's, Shanghai, Shenzhen, Africa, India, Morgan China

☆ Chinese smartphone maker Xiaomi releases a new operating system as it plans car integration
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

BEIJING — Chinese smartphone and appliance maker Xiaomi announced late Thursday a new operating system — as it seeks to develop its ecosystem with the imminent release of its own car. Xiaomi shares rose more than 1% in Hong Kong trade Friday morning, building on gains of more than 20% for the year so far. The new system, called HyperOS, is set to reach consumers Oct. 31 when Xiaomi's latest phones, wearables and TV sets begin sales in China. "The system marks a pivotal move forward in Xiaomi's strategic vision of delivering the 'Human x Car x Home' smart ecosystem," the company said in a release. CEO and founder Lei Jun said on Chinese social media Wednesday that Xiaomi would release its car in the first half of next year.

Persons: Lei Jun Organizations: Xiaomi Locations: BEIJING, Hong Kong, China

☆ Huawei's revenue barely rose in the third quarter, despite phone and car sales growth
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

That's despite the company's release of a popular new smartphone in late August and growing sales within its electric car venture. watch nowMore than 1.6 million Mate 60 series devices were sold during the first six weeks of sales, according to Counterpoint Research. The research firm estimated that the majority, about 75%, of units sold were Pro models — that's about 1.2 million units sold. The U.S. company saw smartphone sales fall by 10% in the third quarter from a year ago, while Huawei's sales surged by 37%, Counterpoint Research said Thursday. The company sells its operating system and components, such as for driver-assist tech, to car manufacturers.

Persons: Richard Yu, Aito Organizations: Huawei, Bloomberg, Getty, CNBC, 5G, Research, Apple, Aito's Locations: Nanjing, Shanghai, China, BEIJING, U.S

☆ China's former premier Li Keqiang has died, state media reports
▼ + stars: | 2023-10-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

China's Premier Li Keqiang waves as leaving the annual news conference following the closing session of the National People's Congress at the Great Hall of the People on March 16, 2016 in Beijing, China. China's former premier Li Keqiang died just past midnight after suffering a heart attack while in Shanghai, Chinese state broadcaster CCTV reported Friday. That sometimes put Li at odds with Hu's successor, Chinese President Xi Jinping. Li also inspired the unofficial "Li Keqiang Index," which uses electricity consumption, rail cargo and bank lending as a proxy on the economy. While premier, Li pushed for promoting trade cooperation between China and other countries, as well as removing restrictions on the flow of people and goods within China.

Persons: Li, Li Keqiang, Hu Jintao, Xi Jinping, Xi, Li Qiang Organizations: National People's, of, State, Communist Party Locations: Beijing, China, Shanghai

☆ Tesla rival Xpeng presses ahead with driver-assist rollout in China, Europe
▼ + stars: | 2023-10-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An Xpeng G9 electric vehicle at the Xpeng pavilion in the Open Space area during the Munich Motor Show (IAA) in Munich, Germany, on Sept. 5, 2023. BEIJING — Chinese electric car company Xpeng said this week it plans to roll out driver-assist technology in Europe by the end of next year, and remains on track with plans to expand the tech to 50 cities in China by year-end. U.S.-based Tesla 's version for city streets — called Full Self-Driving Beta — has yet to be released in China and it's unclear how many of the driver-assist features are available in Europe. Xpeng needs time to test and localize its driver-assist software in Europe, Brian Gu, honorary vice chairman of Xpeng's board of directors and co-president, told reporters Wednesday. He said the startup is cooperating with EU regulators on their recently announced probe into subsidies at Chinese electric vehicle companies, and the company is taking a "stringent approach" to comply with Europe's GDPR data protection rules.

Persons: Xpeng, Tesla, Brian Gu Locations: Munich, Germany, BEIJING, Europe, China, U.S

☆ Why China's 1 trillion yuan debt plan isn't necessarily such a big deal
▼ + stars: | 2023-10-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Kim Kyung-Hoon | ReutersBEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds. Chinese state media said the 1 trillion yuan in central government issuance is set to be transferred to local governments in two parts, half for this year and half for next year. "It is roughly around 5% of transfer revenues or 2% of total revenues for the local governments," Yin said. "Note a special program has already been started since October, allowing local governments to issue special refinancing bonds to swap their outstanding hidden debt. Goldman Sachs analysts estimated the early issuance could be as much as 2.7 trillion yuan, based on prior government practice.

Persons: Kim Kyung, Hoon, Larry Hu, it's, Ting Lu, Yin, Nomura's Lu, Ricky Tsang, they're, Tsang, —, Goldman Sachs, Macquarie's Hu, It's Organizations: Reuters, Macquarie, Monetary Fund, People's Bank of Locations: Beijing, Reuters BEIJING, China, Hong Kong, People's Bank of China

☆ 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

☆ The U.S. is trying to tighten the screws on Chinese AI. What that means for stocks
▼ + stars: | 2023-10-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The artificial intelligence behind ChatGPT-like products and autonomous driving is driving enormous demand for Nvidia's chips in China. Chinese companies also dominate the burgeoning electric car market , where Nvidia has had a fast-growing business of selling chips for assisted and fully autonomous driving. When it comes to such chips for cars, Nomura analysts said there's little reason to worry. Auto chip market BYD, Nio , Li Auto and Xpeng are among the China-based electric automakers using the Orin chip. In the automotive chip category, they noted Nvidia's Thor chip and Qualcomm's Snapdragon Ride Flex chip both fall into that more advanced category.

Persons: Orin, Orin X, Joel Ying, Li Auto, Albert Liu, Weeks, Kneron, Liu, Julian Ma, Ma, Inceptio, Nomura, Inovance Organizations: Nvidia, Nomura, Nomura China Technology, Auto, CNBC's East Tech West, Apple, HSBC, SEC, U.S, Management Locations: China, U.S, Nomura China, South, German, Inovance's, Hong Kong

☆ African ambassador criticizes IMF, World Bank for not giving enough loans
▼ + stars: | 2023-10-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

John Wessels | Afp | Getty ImagesBEIJING — An ambassador of an African country to China has criticized the International Monetary Fund and the World Bank for restrictive lending policies. "The problem is that the ratings we are making for the African [countries] should be different," Ibrahima Sory Sylla, ambassador for the West African country of Senegal, said Thursday at an event at Peking University. The research claimed every 1% increase in Chinese loans resulted in an increase of 0.176% in African economic growth. Allan Joseph Chintedza, ambassador of Malawi to China, said the report should look also at the repayment period for Chinese loans. The East African country needs to provide a "sustainability letter" from the Chinese government in order to borrow more from the IMF, Chintedza added.

Persons: John Wessels, Sylla, Poor's, Senegal's Sylla, Fitch, Wu Peng, Jang Ping Thia, Thia, Vladimir Putin, Allan Joseph Chintedza, Chintedza Organizations: Afp, Getty, BEIJING —, International Monetary Fund, World Bank, West, Peking University, Fitch, IMF, Bank, United, Loans, Boston, Global, Policy Center, CNBC, Asian Infrastructure Investment Bank, Initiative, Peking University's Institute, New Locations: Senegal's, Dakar, BEIJING, China, Senegal, West Africa, Africa, Beijing, Malawi

☆ One sector in China is beating the slowdown — 3 stocks to play it including one with 80% upside
▼ + stars: | 2023-10-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After Beijing cracked down on real estate developers' high debt levels, banks and other financial institutions drastically pulled back on lending to those companies. Meanwhile, China's latest development plans have emphasized advanced manufacturing — production of goods of higher value than apparel and other lower-cost goods Chinese factories have been known for. But analysts increasingly realize that the high-growth days of real estate are over, weighing further o n the economy in the near term. Oxford Economics expects the economy to slow to a 4.4% pace in 2024 and 4.0% in 2025, dragged down by real estate. China is set to release third-quarter GDP, retail sales, industrial production and fixed asset investment on Wed., Oct. 18.

Persons: That's, hasn't, Banks, Gill, Kharas, Louise Loo, Loo, Brian Tycangco Organizations: People's Bank of China, Oxford, Stansberry Research, HSBC, World, Network Locations: China, Beijing, Oxford, Friday's

☆ China gives Ehang the first industry approval for fully autonomous, passenger-carrying air taxis
▼ + stars: | 2023-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

An EHang all-electric Vertical Takeoff and Landing (eVTOL) two-passenger multicopter aircraft, performs an unmanned display flight at a Korean government event at Yeouido island in Seoul on November 11, 2020. BEIJING — Self-driving air taxis are one step closer to reality in China. Guangzhou-based Ehang on Friday said it received an airworthiness "type certificate" from the Civil Aviation Administration of China for its fully autonomous drone, the EH216-S AAV, that carries two human passengers. The regulator is the equivalent of the Federal Aviation Administration in the U.S.U.S.-listed Ehang claims it's the first in the world to get such a certificate, which allows it to fly passenger-carrying autonomous electric vertical take-off and landing (eVTOL) aircraft in China. Ehang shares have nearly doubled in price this year, before trading was temporarily halted Monday "in anticipation of an upcoming announcement concerning a very significant development regarding its business operations."

Persons: it's, Huazhi Hu, Ehang Organizations: BEIJING —, Civil Aviation Administration, China, Federal Aviation Administration, U.S ., CNBC Locations: Seoul, BEIJING, China, Guangzhou, U.S . U.S, U.S, Europe, Southeast Asia

☆ China's exports and imports drop again in September
▼ + stars: | 2023-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

In U.S.-dollar terms, exports fell by 6.2% last month from a year ago. China's exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year. For the first three quarters of the year, China's exports to the U.S. fell by 16.4%, while imports dropped by 6% during that time. The volume of China's cosmetics imports fell by 14.2% in the first three quarters compared to a year ago.

Organizations: Future Publishing, Getty, Imports, Reuters, European Union, CNBC, Association of Southeast, Nations, EU, U.S, Monetary Fund, Initiative Locations: Qingdao, Shandong province, BEIJING, China, U.S, Russia, Europe, Southeast Asia

☆ China's consumer spending isn't roaring back to pre-pandemic levels yet
▼ + stars: | 2023-10-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China's consumer spending still isn't growing as fast as it did before the pandemic, analysts said. Retail sales for the Sept. 29 to Oct. 5 holiday period rose by 9% from a year ago, according to state media reports of Ministry of Commerce data. China's retail sales fell by 0.2% in 2022, according to official figures. In the Asia-Pacific region, Chinese spending on luxury goods has already recovered to 2019 levels, the report said. Consumer spending has lagged China's overall economic growth since the pandemic started in early 2020.

Persons: Kevin Frayer, Christine Peng, Christine Peng UBS, Peng, Imke Wouters, Oliver Wyman, Wouters Organizations: Getty, BEIJING, Ministry of Commerce, UBS, CNBC, Consumers, Christine Peng UBS UBS, HSBC Locations: Beijing, China, Hainan, Europe, Asia, Pacific, U.S

☆ China's domestic tourism is finally back to pre-pandemic levels
▼ + stars: | 2023-10-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Both figures were lower than what Chinese state media had earlier cited the ministry as predicting: 896 million trips and 782.5 billion yuan in domestic tourism revenue. Golden Week domestic tourism revenue was 753.43 billion yuan ($103.24 billion) — a 1.5% increase from that in 2019, according to China's Ministry of Culture and Tourism . The number of domestic tourist trips rose by 4.1% from 2019 to 826 million during the latest eight-day holiday, the ministry said. BEIJING — China's big "Golden Week" holiday saw domestic tourism rebound to around pre-pandemic levels, while overseas travel had yet to fully recover, according to official figures. That was also below earlier predictions, reported by state media, which forecast nearly 1.6 million trips across the border a day.

Persons: Morgan, Robin Xing, Morgan Stanley, Trip.com, Jane Sun, CNBC's Eunice Yoon Organizations: China, Golden, China's Ministry of Culture, Tourism, BEIJING, National Immigration Administration, China's Labor Locations: China, Beijing, Thailand, Singapore, Malaysia, South Korea, Switzerland, Spain, Turkey, France, Europe

☆ U.S. leans on China to use influence with Iran to cool Middle East tensions
▼ + stars: | 2023-10-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — U.S. Senate Majority Leader Chuck Schumer said Monday the congressional delegation to China asked Beijing to use its influence with Iran to prevent the Israel-Hamas conflict from spreading. "A bunch of us made the request that China use its influence on Iran to not allow a conflagration to spread," Schumer told reporters in a briefing. "They have influence with Iran in many different ways," he said. "And we asked them to do everything they could to not have Iran spread this conflagration through themselves and through Hezbollah." "We oppose moves that escalate the conflict and destabilize the region and hope fighting will stop and peace will return soon," Mao said.

Persons: Chuck Schumer, Wang Wentao, Schumer, Xi Jinping, We're, Mao Ning, Mao Organizations: Chinese Commerce, Ministry of Commerce, Republican, Democratic Locations: Beijing, BEIJING — U.S, China, Iran, Israel, U.S

☆ China responds to Israel-Hamas conflict with a call to 'end the hostilities'
▼ + stars: | 2023-10-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China called for a ceasefire in the Israel-Hamas conflict — and for "establishing an independent State of Palestine," according to a Ministry of Foreign Affairs statement Sunday. "The fundamental way out of the conflict lies in implementing the two-state solution and establishing an independent State of Palestine," the Chinese foreign ministry said. Its online statement described the situation as an "escalation of tensions and violence between Palestine and Israel." "We call on relevant parties to remain calm, exercise restraint and immediately end the hostilities to protect civilians and avoid further deterioration of the situation," the Chinese foreign ministry said. On Monday, China's permanent representative to the United Nations, Zhang Jun, took a more pointed stance on the developing conflict by saying "China condemns all violence and attacks against civilians."

Persons: Zhang Jun Organizations: Ministry of Foreign Affairs, Hamas, U.S, European Union, NBC News, Saturday, United Nations, CNBC, Twitter Locations: BEIJING, China, Israel, State, Palestine, Gaza

☆ Stocks to bet on China’s economic future after the real estate pain ends
▼ + stars: | 2023-10-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

For example, China's urbanization rate in 2022 was 64%, the same as Japan's back in the 1960s, she said, noting Japan's urbanization rate in the 1990s was a much higher 77%. China is also leading in innovation based on research and development spending as a percentage of sales, the report said. Easier said than done, especially since that debt and urban development are linked to a struggling real estate sector that's accounted for about a quarter of China's economy. After a summer of mounting worries about China's growth prospects, KKR's head of global macro, Henry McVey, made yet another trip to the region . He pointed to China's push to reduce carbon emissions and increase the integration of tech in the economy — such as through automation.

Persons: Yao Yang, Yao, Bernstein, Rupal Agarwal, Bernstein's Agarwal, BYD — Bernstein, Meituan, Henry McVey, CNBC's Michael Bloom Organizations: Tokyo, CNBC, National School of Development, Peking University, KKR, Citi Locations: China, Japan, Asia, Hong Kong

☆ China plans to ease one of the biggest hurdles for foreign business
▼ + stars: | 2023-10-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

China News Service | China News Service | Getty ImagesBEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones. But foreign businesses have found it difficult to comply — if not operate — due to vague wording on terms such as "important data." The country's top executive body, the State Council, in August revealed a 24-point plan for supporting foreign business operations in the country. The text included a call to reduce the frequency of random inspections for companies with low credit risk, and promoting data flows with "green channels" for certain foreign businesses. When U.S. Commerce Secretary Gina Raimondo visited China in August, she called for more action to improve predictability for U.S. businesses in China.

Persons: Reva Goujon, Goujon, Gabriel Wildau, Gina Raimondo, Martin Chorzempa, Samm Sacks, Yale Law School Paul, Chorzempa, Sacks, Beijing's Organizations: China News Service, Getty, Cyberspace Administration of China, Government, European Union Chamber of Commerce, CNBC, EU, State, China Corporate, CAC, State Council, Commerce, Peterson Institute for International Economics, Yale Law School, Yale Law School Paul Tsai China Center and New, Baidu Locations: Chongqing, BEIJING, China, Beijing, Covid, U.S, Yale Law School Paul Tsai China Center and New America

☆ Asia's edge isn't just cheap labor, whether it's China, India or Japan, KKR says
▼ + stars: | 2023-10-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note. That investment conclusion comes after a recent trip to Singapore, China and Japan by New York-based Henry H. McVey, chief investment officer of KKR Balance Sheet. "The bid for infrastructure and logistics could accelerate even more meaningfully, we believe, in key markets such as India, China, Indonesia, the Philippines, Vietnam and even Japan," the KKR report said. That includes a $2 billion acquisition of a Mitsubishi-backed real estate manager in spring 2022.watch now"I think there are two big megathemes in Japan," KKR's McVey said in an interview Thursday. The other big trend in Japan, McVey said, is corporate reform that's boosting shareholder returns.

Persons: Henry H, McVey, Frances Lim, KKR's McVey, Fumio, haven't, Warren Buffett, Lim didn't, There's, Nisha Awasthi, Lim Organizations: Visual China, Getty, BEIJING, KKR, Mitsubishi, Hitachi Transport System, Logisteed, Hyatt Regency, Gaw Capital Partners, Wednesday, China Locations: China, Haikou, Hainan, India, Japan, Asia, Singapore, New York, Indonesia, Philippines, Vietnam, Hyatt Regency Tokyo, Gurugram, BlackRock, Mumbai, Pacific, Beijing, Hong Kong, Seoul, Shanghai, Sydney, Tokyo

☆ China's big 'Golden Week' is here. Three hot destinations for spending — and a stock with 95% upside
▼ + stars: | 2023-10-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Whether it's by train or by car, hundreds of millions of people are traveling around mainland China for a holiday called Golden Week. From the Mid-Autumn Festival on Friday, Sept. 29, to the following Friday, the break runs for an entire week to celebrate China's National Day. Morgan Stanley analysts like Hong Kong-listed CTG Duty Free , China's state-owned duty-free retail giant. Within China, domestic hotel room rates are still above 2019 levels, Morgan Stanley analysts said. On the macro front, if tourism pans out as expected this Golden Week, it will give a much-needed lift to China's the economy overall.

Persons: Morgan Stanley, They're, Oliver Wyman, Oliver Wyman's, BlackPink, Atour, — CNBC's Michael Bloom Organizations: Bank of America, Hong, Golden, MGM China, Wynn Macau Locations: China, Hong Kong, Hainan, Macau, U.S

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