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☆ Asia hedge fund losses grow in Q3, poised for worst year since 2008
▼ + stars: | 2022-10-19 | by ( Summer Zhen | ) www.reuters.com time to read: +3 min

“It’s a very painful third quarter for (Asia) hedge fund managers’ performance. Repeated lockdowns in many Chinese cities, a risk-off mode ahead of the party congress and geopolitical risks affected market sentiment. The magnitude of central bank policy moves and frequent macro headlines created profitable trading opportunities for macro hedge funds globally, analysts said. The HFRI Asia ex-Japan Index tracks funds that target more than 50% of their investments in the Asia ex-Japan region. Japan-focused hedge funds fared relatively well, with the HFRI Asia index that includes Japan, down just 3.3% in September and 3.9% this year.

☆ China could expand its domestic market to reduce reliance on exports, says Standard Chartered
▼ + stars: | 2022-10-19 | 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 could expand its domestic market to reduce reliance on exports, says Standard CharteredShuang Ding of the bank discusses the 20th Party Congress of the Chinese Communist Party and says there was a "realistic assessment of [the] external environment" that the country faces.

☆ China's party congress signals that national security will be its top priority: Research firm
▼ + stars: | 2022-10-19 | 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's party congress signals that national security will be its top priority: Research firmSimon Cartledge of Big Brains discusses the 20th Party Congress of the Chinese Communist Party and says national security will probably shape the country's thinking over the next few years.

☆ China delayed the release of key economic data to avoid distraction amid the Communist Party Congress, not to conceal data, analysts say
▼ + stars: | 2022-10-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China delayed the release of key economic data, including third-quarter GDP, scheduled for this week. The postponement of the data — GDP in particular — has raised speculation that the numbers are deliberately being hidden. "Beijing just wants everyone and the media coverage to focus on the Congress, not on economic data." While delays in monthly statistical data release are indeed "quite unusual," they are not unprecedented, according to Zhuang. However, it's the first time Beijing is delaying GDP data release.

☆ China has been 'very consistent' in its message on the Taiwan issue, HSBC says
▼ + stars: | 2022-10-18 | 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 has been 'very consistent' in its message on the Taiwan issue, HSBC saysFred Neumann of HSBC discusses the topics covered at the 20th Party Congress of the Chinese Communist Party.

☆ China's economic development remains a 'top priority,' says Morgan Stanley
▼ + stars: | 2022-10-18 | 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's economic development remains a 'top priority,' says Morgan StanleyRobin Xing of the financial services firm says that's despite "some increased mentioning of security" at the 20th Party Congress of the Chinese Communist Party.

☆ China's Q3 GDP delay: The rule of data is that nobody hides good news, says professor
▼ + stars: | 2022-10-18 | 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's Q3 GDP delay: The rule of data is that nobody hides good news, says professorAustan Goolsbee of The University of Chicago Booth School of Business says given the negative economic impact of China's zero-Covid policy, the country's third quarter GDP data probably showed "something that they didn't want to be released" during the 20th Party Congress of the Chinese Communist Party.

“My forecast is for a further decline of 1.2% [on a quarterly basis for China’s GDP]. China’s GDP declined 2.6% in the second quarter from the previous one, reversing a 1.4% growth in the January-to-March period. Economists polled by Reuters have expected China’s GDP to expand by 3.4% in the third quarter from a year earlier. Many international organizations, including the IMF and World Bank, have recently downgraded China’s GDP growth forecasts for this year. Bennett expected the third-quarter GDP data to be released after the Party Congress.

☆ Xi Jinping's Party Congress speech: yes to zero-Covid, no to market reforms?
▼ + stars: | 2022-10-17 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Priorities presented at the political gathering of more than 2,000 party members will also set China’s trajectory for the next five years or even longer. In his speech Sunday, Xi struck a confident tone, highlighting China’s growing strength and rising influence under his first decade in power. China's President Xi Jinping speaks during the opening session of the 20th Chinese Communist Party's Congress at the Great Hall of the People in Beijing on October 16, 2022. And China’s economy is in bad shape. Meantime, a comparison between this year’s speech and the last one delivered by Xi in 2017 at the 19th party congress revealed a potentially worrying trend.

☆ China will never renounce right to use force over Taiwan, Xi says
▼ + stars: | 2022-10-16 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - It is up to the Chinese people to resolve the Taiwan issue and China will never renounce the right to use force but will strive for a peaceful resolution, President Xi Jinping said on Sunday at the opening of a major party meeting. Tensions rose dramatically in August after China staged war games near Taiwan following the visit to Taipei of U.S. House Speaker Nancy Pelosi. "Resolving the Taiwan issue is the Chinese people's own business, and it up to the Chinese people to decide," he said. "The historical wheels of national reunification and national rejuvenation are rolling forward, and the complete reunification of the motherland must be achieved, and it must be achieved!" In her national day speech on Monday, Taiwan President Tsai Ing-wen said war between Taiwan and China was "absolutely not an option" and reiterated her willingness to talk to Beijing.

☆ China’s Communist Party Faces Up to Slower-Growth Years Ahead
▼ + stars: | 2022-10-15 | by ( Brian Spegele | ) www.wsj.com time to read: 1 min

Sun Yeli, a spokesman for the Communist Party congress, said the pace of economic growth isn’t the only important metric of China’s economic health. BEIJING—China’s Communist Party said it was prepared to accept lower rates of economic growth as it sought to manage longer-term risks, on the eve of a political conclave that will help to chart the country’s path in the years ahead. On Sunday, the party will convene the 20th party congress, a twice-a-decade gathering of top leaders, at which President Xi Jinping is widely expected to break with recent precedent and secure a third term in power.

☆ Factbox: How China's Communist Party Congress works
▼ + stars: | 2022-10-14 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

BEIJING, Oct 14 (Reuters) - Chinese President Xi Jinping is poised to win a third five-year term as General Secretary of the ruling Communist Party, the most powerful job in the country, at the 20th Party Congress that starts on Sunday. During the opening ceremony, which is broadcast with a delay, Xi will read out the 20th party congress report, reviewing the party's achievements of recent years and laying out its vision for the next five years. At the 19th party congress, the opening speech lasted 3 hours and 24 minutes. THE CLOSING CEREMONYAt the closing ceremony, typically a week after the start, delegates vote to endorse the congress report and party constitution amendment. The Standing Committee members enter in order of seniority, highest to lowest.

☆ China's economy is 'in deep trouble' as Xi heads to Communist Party congress
▼ + stars: | 2022-10-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“Xi’s leadership is not causal for China’s economic rise,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy. Bloomberg/Getty ImagesThe International Monetary Fund recently cut its forecast for China’s growth to 3.2% this year, representing a sharp slowdown from 8.1% in 2021. Under Xi, China has not only become more insular, but has also seen the fraying of US-China relations. He is expected to secure an unprecedented third term in power at the Communist Party Congress that begins on Sunday. “Moreover, growth is not the only source of legitimacy and support for the Communist Party, and Xi has increasingly burnished the Communist Party’s nationalist credentials to appeal to patriotism as well as pocketbooks,” he added.

☆ Hong Kong hopes China Congress could revive economy, reverse IPO slump
▼ + stars: | 2022-10-13 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 13 (Reuters) - Hong Kong dealmakers expect China's 20th Party Congress next week to herald a shift in focus in Beijing back towards business and economic issues that could help revive the city's IPO issuance from nine-year lows. Hong Kong only recently began its own reopening, relaxing its tough virus policies which have tarnished its credentials as a global financial centre. There has been just $9.28 billion worth of IPOs in Hong Kong this year, down from $37.1 billion in the same period in 2021, according to Refinitiv figures. Moreover, more than 80% of the IPOs in Hong Kong this year are trading under water since their debut, according to Dealogic data. Mainland Chinese IPOs have raised $54.12 billion, down 33% from $80.89 billion in the first three quarters of 2022, according to Refinitiv data.

☆ Security, red banners and COVID curbs: Beijing readies for 20th Congress
▼ + stars: | 2022-10-11 | by ( Eduardo Baptista | ) www.reuters.com time to read: +5 min

REUTERS/Thomas PeterBEIJING, Oct 11 (Reuters) - Beijing has stepped up security and COVID curbs and decorated the capital Beijing with red political banners as it gears up for a Communist Party congress where President Xi Jinping is poised to become China's most powerful leader since Mao Zedong. The 20th party congress, which opens on Oct. 16, occurs every five years and brings together 2,300 party members, mostly behind closed doors, at the vast Great Hall of the People on Tiananmen Square. One hashtag about Beijing "pop-up windows" started on Oct. 5 and generated over 12 million views by Tuesday. A lockdown in Beijing during Congress would be an even larger dent on Xi and the Party's unwavering commitment to zero-COVID. Besides the COVID "pop-up windows", Beijing authorities recently introduced a series of measures to show their commitment to keeping the Congress virus-free, from reinforcing COVID monitoring teams at key airports and railway stations to increasing the frequency of COVID testing for office workers.

☆ What is China's Communist Party Congress and will it cement Xi Jinping's rule?
▼ + stars: | 2022-10-11 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

What is the Party Congress? The Congress itself, typically held in October or November, convenes nearly 2,300 carefully selected Communist Party members, called delegates, from around the country. Delegates attend the opening of the Chinese Communist Party's 19th National Congress in October 2017. While votes are held at the Party Congress, this is widely viewed as a formality – not a true election process. Video Ad Feedback 02:46 - Source: CNN Watch CNN's report of last party congress of the Chinese Communist Party in 2017Why is this Congress different from those in the past?

☆ China's Golden Week spending plunges to seven-year low as zero-Covid batters economy
▼ + stars: | 2022-10-10 | by ( Laura He | ) edition.cnn.com time to read: +7 min

The National Day break is one of China’s longest public holidays and usually a peak season for travel and spending. But this year, people were deterred from traveling by a resurgence of the virus and stringent Covid restrictions. All the weak data point to the heavy damage of Beijing’s zero-Covid policy on consumer spending and the economy, said analysts. China’s service sector is a key source of employment, accounting for 48% of total jobs created, according to government data. “Entrepreneurs’ concerns continued to stem from recurring Covid outbreaks and the impact of related controls on the market,” Wang said.

☆ China’s Xi reemerges after trip abroad quashing unfounded ‘coup’ rumors
▼ + stars: | 2022-09-28 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Chinese leader Xi Jinping has made his first public appearance since returning from a trip to Central Asia, quashing unfounded rumors of a “coup” that sparked a frenzy of speculation ahead of a key Communist Party meeting. Xi on Tuesday visited an exhibition in Beijing showcasing China’s achievements over his decade in power, according to state broadcaster CCTV. Xi had not been seen in public since returning to Beijing from a regional summit in Uzbekistan on September 16. The visit was his first foreign trip in nearly 1,000 days since the beginning of the pandemic. As a result, the power of party factions and elders is believed to have been significantly weakened.

☆ New China ETFs test investor appetite amid Sino-U.S. tech war, market rout
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Aly SongSHANGHAI, Sept 23 (Reuters) - Five Chinese tech-focused ETFs launched on Friday, testing investor appetite for chipmakers, new materials producers and machine tool manufacturers amid an escalating Sino-U.S. tech war, and a global rout in tech shares. Two of the ETFs will invest money into the stocks of the 50 biggest chipmakers listed on Shanghai's STAR Market, including Semiconductor Manufacturing International Corporation (SMIC) (0981.HK) and Montage Technology Co (688008.SS). read moreIt also comes amid heightened geopolitical tensions and tech rivalries between China and the United States. The Biden administration took fresh steps in recent weeks to support domestic tech sectors and cut economic reliance on China, sending shares in Chinese biotech and new energy lower. Shanghai's tech-focused STAR Market - which Beijing hopes will fund China's tech self-sufficiency - has tumbled roughly 30% this year.

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