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☆ A China fund from Fidelity is beating the crowd. How it plans to keep doing it
▼ + stars: | 2023-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Fidelity's China Focus Fund is setting up for another year of outperformance, after ranking first last year among China equity funds tracked by Morningstar. With minimal losses of 0.66% for the year as of Aug. 31, the China Focus Fund has held up far better than the China equity category's decline of 9.45% during that time, according to Morningstar. The China Focus Fund is a "value contrarian strategy," said Catherine Yeung, a Hong Kong-based investment director focused on equities at Fidelity International. Consumer discretionary is the largest sector within the China Focus Fund's holdings, at about one-fourth of the names. Fidelity also has a dedicated China Consumer Fund, which is down by 8.75% year-to-date, only slightly better than its peers, according to Morningstar.

Persons: outperformance, Morningstar, Catherine Yeung, Yeung, hasn't, it's Organizations: Fund, Morningstar, China Focus, China, Fidelity International, CNBC, China Focus Fund, Galaxy Entertainment, Fidelity, China Consumer Fund Locations: China, Hong Kong, expansionary, Macau

☆ China says the best way to 'de-risk' is to restore stability with the U.S.
▼ + stars: | 2023-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mandel Ngan | Afp | Getty ImagesBEIJING — China's Ministry of Commerce said Thursday that restoring stability in U.S.-China trade relations is the best way to "de-risk" — a twist to a term that's become popular in international politics. That also "allows bilateral economic trade relations to better play the role of 'ballast,' stabilizing business expectations and increasing business confidence for carrying out trade and investment." In November last year, U.S. President Joe Biden and Chinese President Xi Jinping met in Bali, Indonesia, for their first in-person meeting since Biden took office. Their meeting kicked off formal plans for U.S. Secretary of State Antony Blinken and other U.S. senior officials to visit China this year. Following her meetings, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets.

Persons: Joe Biden, Xi Jinping, Roosevelt, Mandel Ngan, Shu Jueting, Biden, Antony Blinken, Scott Kennedy, International Studies Shu, Wang Wentao, Gina Raimondo, Shu, Raimondo, Wang, CNBC's Eunice Yoon Organizations: White, Afp, Getty, BEIJING, China's Ministry of Commerce, Ministry of Commerce, CNBC, U.S, Scott, Scott Kennedy Center for Strategic, International Studies, Commerce, Center for Strategic, . Commerce Locations: Washington ,, China, Bali, U.S, Bali , Indonesia, Beijing, Shanghai, America

☆ China says drop in trade with the U.S. is 'a direct consequence of U.S. moves'
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.

Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S

☆ Baidu gets China's green light to release its ChatGPT-like Ernie bot to the public
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

In this article BIDU Follow your favorite stocks CREATE FREE ACCOUNTPictured here is the Ernie bot mobile interface, with the Baidu search engine home page in the background. Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese tech giant Baidu announced Thursday its ChatGPT-like Ernie bot was now open to the public at large. Baidu released Ernie bot on March 16. At the time, Li said the company was "still waiting for the green light for large-scale rollout of Ernie bot for use in consumer facing apps." Last week, Opera web browser parent Kunlun Tech released to the public an AI-powered chatbot and search engine called Tiangong AI search.

Persons: Ernie, Baidu, OpenAI's ChatGPT, ChatGPT isn't, China's, Robin Li, Li, Tiangong, Ernie bot Organizations: Ernie, Baidu, Publishing, Getty, CNBC, Google, Facebook, Tech, Microsoft, Bank of America Locations: BEIJING, Beijing, China

☆ 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

☆ Consumer spending in China bounced back in August, survey finds
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Larger-than-life roses are on display in Nanjing, Jiangsu province of China, on Aug. 21, 2023, one day before the Qixi Festival. Vcg | Visual China Group | Getty ImagesBEIJING — Consumer spending bounced back in August after a tepid July, according to the China Beige Book's survey of Chinese businesses released Thursday. That's based on a survey conducted Aug. 17 to 25 of 1,300 businesses, the majority of which were not state owned. The China Beige Book survey also found that corporate borrowing surged as cost of capital declined. Another business survey released in mid-August, the CKGSB Business Conditions Index, reported a 50.9 print for July, a touch above the 50.02 figure recorded for June.

Persons: That's, Nomura Organizations: Visual China, Getty, Consumer, National Bureau of Statistics, Services, JL Warren Capital, Louis Vuitton, National Bureau, Statistics Locations: Nanjing, Jiangsu, China, BEIJING

☆ 'Pain trade': UBS CIO warns of bear trap as Chinese stocks rise
▼ + stars: | 2023-08-30 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

The recent rally in Chinese stocks could catch investors out, according to a UBS chief investment officer, who warned of a "pain trade." He added that, if the positive news continues, Chinese markets could climb further. Tactical trade However, Zuercher said there could be a "tactical trade" over the coming weeks or months, as hedge funds potentially suffer. I do think a lot of hedge funds are also probably mispositioned in this area," Zuercher said. Hedge funds often use a long-short strategy, where they buy stocks in the same sector, betting that one will go up and the other down.

Persons: Gina Raimondo, Adrian Zuercher, CNBC's, Zuercher, — CNBC's Evelyn Cheng, Elliot Smith Organizations: UBS, U.S Locations: Asia, Pacific, U.S

☆ Here's what the U.S. hopes China will do after Raimondo's trip
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — U.S. Commerce Secretary Gina Raimondo has left Beijing with a few deliverables: plans for formal discussions on export controls and tourism. In her two days in Beijing, Raimondo met with Premier Li Qiang, Vice Premier He Lifeng, Commerce Minister Wang Wentao and Minister of Culture and Tourism Hu Heping. Here's what they agreed to do, according to public announcements:Establish a commercial issues working group between the commerce departments — meet twice a year at the vice minister level, and once at the minister level. Launch export control enforcement information exchange — first in-person meeting held at the assistant secretary level at the Ministry of Commerce in Beijing on Tuesday. He noted that in his first 15 months in China as ambassador, there were no U.S. discussions at a senior level with Chinese officials.

Persons: Gina Raimondo, Raimondo, Li Qiang, Wang Wentao, Hu, Wang, China Nicholas Burns Organizations: Commerce, of, People, BEIJING — U.S . Commerce, Culture, —, Ministry of Commerce, U.S . Tourism Leadership, U.S Locations: Beijing, BEIJING — U.S, Shanghai, U.S, China

Andy Wong | Afp | Getty ImagesBEIJING — U.S. Commerce Secretary Gina Raimondo has called on China to improve the predictability of the business environment for American companies in the country. "There's an appetite certainly for U.S. business to continue to do business in China," she said, adding however that "It's an unlevel playing field for U.S. business. Foreign companies in China have long complained about market access challenges including forced tech transfers and preferential treatment for local companies, especially state-owned enterprises. Gina Raimondo U.S. Commerce SecretaryThe updated law is of "great concern" to U.S. companies, Raimondo said. Foreign business organizations have noted improvements over the years in China's protection of intellectual property.

Persons: Gina Raimondo, China Nick Burns, Premier Li Qiang, Andy Wong, Raimondo, CNBC's Eunice Yoon, Biden, Stephen Olson Hinrich, Stephen Olson Organizations: Premier, of, People, Afp, Getty, U.S . Commerce, U.S, Trump, U.S . Department of Commerce's, of Industry, Security, Commerce, CNBC, Foundation, Biden, Boeing, Bloomberg Locations: China, Beijing, BEIJING, U.S, Shanghai, America, The U.S

☆ Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
▼ + stars: | 2023-08-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Vcg | Visual China Group | Getty ImagesBEIJING — Chinese electric car company Xpeng said Monday it is buying Didi's smart electric car development business in an exchange of shares worth $744 million. watch nowThe startup's deal with Didi comes as many companies look for ways to grab a slice of China's growing but highly competitive electric car market. Still operating at a lossThe deals come as traditional auto giants have the cash that electric car startups lack. The Didi electric car business — held by a subsidiary called Da Vinci Auto Co. — has also racked up losses. The unit had net assets of 937 million yuan as of June 30.

Persons: Didi, Xpeng, MONA, Li Auto, — Organizations: Visual China, Getty, Volkswagen, VW, Xpeng, Li, Vinci Locations: Shanghai, BEIJING, Xpeng, Hong Kong, China

☆ China's rare earths dominance makes U.S. supply chains vulnerable, trade representative says
▼ + stars: | 2023-08-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

watch nowChina's dominance in rare earths makes U.S. supply chains vulnerable, U.S. Trade Representative Katherine Tai said in an exclusive interview Saturday with CNBC's Martin Soong. "And until we are able to access and create additional supply chains we remain entirely vulnerable to that leverage," the U.S. trade representative said. But lower labor costs overseas, as well as less pressure on environmental standards, helped send the rare earths industry out of the U.S. watch nowIn the case of rare earths, Tai pointed out that China has a monopoly in the global market. While lithium is a key component of electric car batteries, it isn't one of the 17 metals scientifically categorized as rare earths.

Persons: Katherine Tai, CNBC's Martin Soong, Tai, Trump, Biden, Li Qiang, Gina Raimondo Organizations: U.S . Trade, B20, CNBC Locations: U.S, China, New Delhi, India, Beijing

☆ China's big internet names have mostly beat. Here's where analysts think the stocks are headed
▼ + stars: | 2023-08-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

All three stocks have double-digit gains ahead of them, if the average FactSet analyst price target holds true. Still, the average price target rose by 2.4% to $118.90 a share, according to FactSet. KraneShares CSI China Internet ETF (KWEB) gained nearly 19% last month. "We expect the stock will remain volatile in the near term along with China internet peers on macro uncertainty," the report said. Loop has a $210 price target on Baidu, more than 50% above where shares closed on Friday.

Persons: Tencent, –, Louis, Vincent, Jiong Shao, Nomura, Jialong Shi, Morgan Stanley, Alex Poon, NetEase, Rob Sanderson, — CNBC's Michael Bloom Organizations: Baidu, UBS, Hong, Barclays, China Internet, CSI China Internet Locations: U.S, Europe, China, Hong Kong, Barclays China, Tencent

☆ China's EV slowdown drags down Nvidia's 'next billion-dollar business'
▼ + stars: | 2023-08-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nvidia automotive segment primarily sells chip systems for assisted driving. Colette Kress Nvidia's Chief Financial OfficerThe $253 million segment revenue was also well below the $309.3 million forecast by a FactSet analyst poll. Although still a fraction of the chipmaker's business, automotive revenue has grown rapidly from just over $100 million a quarter two years ago. Bloomberg | Bloomberg | Getty ImagesCounterpoint's Wang pointed out that Nvidia's products are concentrated in the high-end automotive segment. Analog Devices on Wednesday reported automotive revenue of $747.6 million for the three months ended July 29, down by 5% from the prior quarter.

Persons: Jensen Huang, Alex Wong, Huang didn't, Colette Kress, Brady Wang, Xpeng, Xpeng's, Xinzhou Wu, Xiaopeng, Huang, Counterpoint's Wang, David Wong Organizations: Nvidia, Getty, Local, Counterpoint Research, Nvidia Nio, Bloomberg, NVIDIA, Robotics, Nomura, Qualcomm, China Passenger Car Association Locations: BEIJING, China, Xpeng, Santa Clara , California

☆ China's Baidu reports 15% revenue growth, beating expectations
▼ + stars: | 2023-08-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese tech company Baidu on Tuesday reported better-than-expected revenue, up by 15% year-on-year in the second quarter and bolstered by growth in advertising. This was the fastest quarterly year-on-year growth pace in two years, according to Refinitiv data. Here's how Baidu did in the June quarter versus Refinitiv consensus estimates:Revenue: 34.1 billion yuan ($4.7 billion) versus 33.28 billion yuan expected. Within Baidu's core businesses, online marketing revenue rose by 15% to 19.6 billion yuan in the second quarter, and non-online marketing revenue added 12% to 6.8 billion yuan. Earnings per American Depositary Share on a non-GAAP basis were 22.55 yuan, versus 15.79 yuan in the year-ago period.

Persons: Robin Li Organizations: Baidu Locations: Beijing, BEIJING, U.S

☆ U.S. Commerce secretary set to visit China next week as high-level talks continue
▼ + stars: | 2023-08-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

U.S. Commerce Secretary Gina Raimondo speaks during a Senate hearing in Washington, D.C., on May 16, 2023. BEIJING — U.S. Secretary of Commerce Gina Raimondo is set to visit China from Aug. 27 to 30, both countries announced Tuesday. Her planned trip will be the third by a high-ranking U.S. official since U.S. Secretary of State Antony Blinken traveled to China in June. The Chinese side's readout said Raimondo's forthcoming visit was at the invitation of Chinese Minister of Commerce Wang Wentao. She is also set to discuss "issues relating to the U.S.-China commercial relationship, challenges faced by U.S. businesses, and areas for potential cooperation," the U.S. readout said.

Persons: Gina Raimondo, Antony Blinken, of Commerce Wang Wentao, Raimondo Organizations: Commerce, Washington , D.C, U.S, of Commerce, U.S . Locations: Washington ,, BEIJING — U.S, China, U.S

☆ China's financial regulators urge support for resolving local debt risks
▼ + stars: | 2023-08-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. The meeting called for coordinating financial support to resolve local debt risks, and adjusting policy for real estate loans. The weak financial situation of local governments has prevented the central government from supporting the economy with fiscal policy, Rhodium Group analysts said in June. Earlier this year, authorities emphasized that preventing financial risks was a priority. "China's ongoing property downturn and COVID restrictions last year have strained the finances of many local governments," S&P Global Ratings analysts said in an early July report.

Persons: Jason Lee, Pan Gongsheng Organizations: People's Bank of China, Reuters, Group, China, Global, National Administration of Financial, China Securities Regulatory, Central Financial Locations: Beijing, China, Reuters BEIJING, Shanghai, Shenzhen

☆ 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

☆ What China's big earnings say about the consumer
▼ + stars: | 2023-08-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

But general merchandise revenue fell by 8.6% from a year ago to 81.72 billion yuan. Marketing revenue rose by 8.5% to 22.51 billion yuan. TencentLivestreaming e-commerce saw 150% year-on-year growth in gross merchandise value in the second quarter to an unspecified number. Overall, Tencent reported earnings for the quarter that missed expectations, but showed a third-straight quarter of revenue growth. The overall Taobao and Tmall Group saw revenue grow by 12% to 114.95 billion yuan.

Persons: Aly Song, Tencent, ByteDance, Tim Cook, Li Ning Organizations: Artificial Intelligence, Reuters, Electronics, Tmall, Shanghai Disney, Universal Studios Beijing, Comcast, Baidu, Adidas, Fila, Apple Apple Locations: Shanghai, China, Reuters BEIJING, Douyin, Greater China

"We think the situation is probably getting a little bit worse because of this Country Garden incident," Chan told CNBC in a phone interview Thursday. The debt troubles at Country Garden and the uncertainty of government support are feeding into broader unease in the Chinese housing market. Louise Loo Oxford EconomicsThe Chinese property sector has been reeling since 2020, when Beijing cracked down on the debt levels of mainland property developers. Chan said S&P's bear case for China's property sector is for 11 trillion yuan in sales this year, and 10 trillion yuan for 2024. Land sales divergenceAs China's property sector consolidates amid the debt and credit malaise, state-owned developers are better positioned to grow than non-state ones.

Persons: Edward Chan, Chan, Evergrande, Louise Loo, Global's Chan, That's, China's, Gary Ng Organizations: Future Publishing, CNBC, JPMorgan, Louise Loo Oxford, Oxford Economics, Natixis Corporate, Investment Banking Locations: Chengdong, Hai, City, East China's Jiangsu Province, China, U.S, China's, Beijing

☆ China is considering countermeasures to Biden's executive order
▼ + stars: | 2023-08-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. BEIJING — China's Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration's executive order to restrict U.S. investments in advanced Chinese technology. China's Ministry of Commerce has met with businesses to understand the order's impact, spokesperson Shu Jueting said in Mandarin, translated by CNBC. "On that basis, we are making a comprehensive assessment of the executive order's impact, and will take necessary countermeasures based on the assessment's results," Shu said. U.S. President Joe Biden last week signed an executive order aimed at restricting U.S. investments into Chinese semiconductors, quantum computing and artificial intelligence companies over national security concerns.

Persons: Shu Jueting, Shu, Joe Biden Organizations: Bund, BEIJING — China's Ministry of Commerce, Biden, China's Ministry of Commerce, CNBC Locations: Shanghai, China, BEIJING

☆ China's premier says country will work to achieve growth targets
▼ + stars: | 2023-08-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese Premier Li Qiang, (R) speaks during a meeting with Asian Development Bank (ADB) President Masatsugu Asakawa (not pictured) at the Great Hall of the People on July 11, 2023, in Beijing, China. BEIJING — China's Premier Li Qiang said Wednesday the country would work to achieve its economic targets for the year, according to an official readout. Li is head of China's State Council, the country's top executive body. During the meeting, Li called for expanding domestic demand and boosting consumption. He also said efforts should be made to "organically combine" security with development — in the context of promoting business overall.

Persons: Li Qiang, Masatsugu Asakawa, Li Organizations: Asian Development Bank, of, BEIJING —, China's State Council Locations: Beijing, China, BEIJING

☆ China may 'miss the 5%' growth target this year as downside risks spread
▼ + stars: | 2023-08-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Greg Baker | Afp | Getty ImagesBEIJING — Without more stimulus, China is increasingly likely to miss its growth target of around 5% this year, economists said. "In such a case, economic momentum may stay subdued in the rest of the year and China may miss this year's growth target of around 5%," she said. China is the world's second-largest economy, and accounted for nearly 18% of global GDP in 2022, according to World Bank data. "We also see bigger downside risk to our 4.9% y-o-y growth forecast for both Q3 and Q4, and it is increasingly possible that annual GDP growth this year will miss the 5.0% mark," the report said. Growth vs. national securityChinese authorities' initial crackdown on real estate developers in 2020 was an attempt to curb their high reliance on growth.

Persons: Greg Baker, Tao Wang, spender, Nomura Ting Lu, Ting Lu, haven't, Louise Loo, Loo, that's, Xiangrong Yu, Gabriel Wildau, Teneo, Wildau Organizations: Afp, Getty, UBS Investment Bank, Bank, China, People's Bank of, Oxford Economics, Zhongrong International Trust, Information, Beijing, CNBC, Baoshang Bank, Anbang Locations: Beijing, BEIJING, China, Asia, People's Bank of China

☆ China reports big data miss in July, stops releasing youth unemployment numbers
▼ + stars: | 2023-08-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Retail sales rose by 2.5% in July from a year ago, below expectations for a 4.5% increase, according to analysts polled by Reuters. Within retail sales, catering saw the biggest increase of 15.8%, while sports and entertainment products saw a 2.6% year-on-year increase. Retail sales posted the slowest growth since a decline in December, according to official data. Top leaders in late July signaled a shift away from its crackdown on real estate speculation. But the overall approach to additional stimulus has been cautious, especially in real estate.

Organizations: Bloomberg, Getty, National Bureau, Statistics, Reuters, National Bureau of Statistics, CNBC, Authorities Locations: BEIJING, China

☆ China halts release of youth unemployment data, reports other big data misses
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina halts release of youth unemployment data, reports other big data missesCNBC's Evelyn Cheng discusses China's suspension of youth unemployment data, and other July economic data that missed expectations.

Persons: Evelyn Cheng Organizations: 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

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