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Optimism on Chinese stocks soars to five-year highs
  + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
Active foreign fund managers put $1.39 billion into mainland Chinese stocks in the four weeks ended Jan. 25, EPFR data showed. Active money managers are more involved with picking portfolio investments, while passive money managers tend to follow stock indexes. At the time, a few institutional investors had said it was time to buy Chinese stocks due to Beijing's emphasis on stability in a politically important year. He said inflows were also less aggressive when it came to U.S.-listed Chinese stocks. Pinduoduo , Baidu and Bilibili were among the U.S.-listed Chinese stocks that saw the largest inflows, the report showed.
BEIJING, Jan 31 (Reuters) - China's Shenghong Holdings Group signed a contract on Tuesday to invest 30.6 billion yuan ($4.5 billion) in an energy storage battery gigafactory and a new energy battery research facility in the eastern city of Zhangjiagang. The Suzhou city government announced the pact on its official social media account, adding that the completed project was expected to generate 56 billion yuan in annual revenue. ($1=6.7536 Chinese yuan renminbi)Reporting by Beijing newsroom; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
New Delhi CNN —Bosch, the German engineering and technology company, is planning to invest $1 billion to make components for new energy vehicles in China, the world’s largest car market. The company plans to build a research, development and manufacturing facility for parts for new energy vehicles and automated-driving technology in Suzhou, a city in the country’s east, Bosch said in a statement on Thursday. It plans to invest around $1 billion in the project over the next years, the statement added. “China is the world’s largest auto market, full of promise and vitality. Bosch has had a presence in China since 1909 and employs around 55,000 people in the country.
SHANGHAI, Jan 5 (Reuters) - China's Luxshare Precision Industry Co Ltd (002475.SZ) said on Thursday its cooperation with current clients was normal, in response to a media report that iPhone maker Apple Inc (AAPL.O) had asked suppliers to cut production. The electronics manufacturer said it wanted to clarify a recent report from a Taiwanese media outlet which said that Luxshare had suffered the biggest impact from the Apple request. "There are no special changes or impact to the relevant business of the company mentioned in the report," Luxshare said in its statement. A separate report by the Financial Times on Thursday said Apple is set to sign an order with Luxshare to produce premium iPhone models. Apple and Luxshare did not immediately respond to requests for comment.
Zimbabwe bans raw lithium exports to curb artisanal mining
  + stars: | 2022-12-21 | by ( ) www.reuters.com   time to read: +1 min
The southern African country holds some of the world's largest reserves of hard rock lithium, a vital mineral in the production of clean energy technologies. London-listed Premier African Minerals (PREM.L) says it will start shipping spodumene concentrate from its Zimbabwe lithium mine to China from March 2023, after signing an offtake deal with Suzhou TA&A Ultra Clean Technology Co (300390.SZ). "No lithium bearing ores, or unbeneficiated lithium whatsoever, shall be exported from Zimbabwe to another country," read the regulation published in a government notice issued by Mines Minister Winston Chitando. The notice said the ban does not apply to the export of lithium concentrates, which all the major lithium miners in the country plan to produce. Mnangagwa said the raw lithium was being exported through neighbouring countries.
On October 7, the Biden administration unveiled a sweeping set of export controls that ban Chinese companies from buying advanced chips and chip-making equipment without a license. The commerce ministry blasted the US move as threatening global supply chain stability and called it “a typical practice of trade protectionism.” The complaint is the first action China has taken at the global trade body against the US chip sanctions. It also comes as the United States is looking to bolster its domestic chip manufacturing abilities, after chip shortages earlier in the pandemic highlighted the country’s dependence on imports from abroad. He called for both countries to boost cooperation in high-tech manufacturing and avoid “the politicization of economic and trade issues.”Chips are a growing source of tension between the United States and China. Before the October sanctions, the US government had already banned sales of certain tech products to specific Chinese companies, such as Huawei.
China COVID infection fears fuel medical stock bets
  + stars: | 2022-12-12 | by ( ) www.reuters.com   time to read: +3 min
China's healthcare index (.CSIHC) gained almost 1% on Monday morning, despite a 0.8% drop in the benchmark CSI300 Index (.CSI300). Hu Qiang, fund manager at Yunchuang Investment, said demand for antigen testing had just taken off. Listed medical firms are also busy fielding investors' queries about how they are preparing for a potential worsening COVID situation. Lepu Medical Technology (300003.SZ), which produces cardiovascular and diagnosis devices, told investors it would adjust production plans to meet market demand for COVID testing. Easy Diagnosis said on an investor relations platform that it was able to ramp up production quickly, as cancellation of nucleic acid testing in many places would boost demand for antigen testing at home.
"On the other hand, we don't know who is safe, we don't know who has the coronavirus. "Moving from isolation facility quarantine to home quarantine will not increase retail sales significantly," said Iris Pang, chief economist for greater China at ING. A spa at a mall in downtown Beijing that resumed business on Friday said most staff had returned but customers were far fewer. Luca Solca, a luxury analyst with Bernstein, said the end of the curbs was good news for the luxury industry, heavily dependent on Chinese spending. "My base-case scenario is that the softening should prompt Chinese consumers to go back to enjoying life and spending money – benefiting, among others, top luxury brands," he said.
Register now for FREE unlimited access to Reuters.com RegisterA promoted tweet on China's Suzhou city is displayed on a mobile phone near a Twitter logo, in this illustration picture taken September 8, 2022. The company will also open an application process to allow more people working in academia, civil society and journalism to join the Twitter Moderation Research Consortium, a group that Twitter formed in pilot mode earlier this year and has access to the datasets. Twitter has already shared datasets with researchers about coordinated efforts backed by foreign governments to manipulate information on Twitter. The company said it now plans to share information about other content moderation areas, such as tweets that have been labeled as potentially misleading. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sheila Dang and Katie Paul; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Vânturi puternice au măturat vineri seara metropola Wuhan, din centrul ţării, de unde a pornit epidemia de Covid-19. Rafalele de vânt au fost atât de puternice încât două macarale au fost avariate, una dintre ele prăbuşindu-se pe un şantier şi provocând pagube materiale semnificative. Peste 26.000 de locuinţe au rămas fără energie electrică şi circa 30 de case s-au prăbuşit, potrivit autorităţilor din Hubei. Oraşul Suzhou, de lângă Shanghai, a fost şi el lovit vineri seară de o tornadă puternică, însoţită de vânturi de peste 200 de kilometri/oră, au indicat autorităţile locale. La începutul lunii mai, o furtună violentă însoţită de vânturi puternice a ucis 11 persoane într-un oraş de lângă Shanghai.
Persons: Furtuna Locations: Wuhan, Hubei, Shanghai
Sursa foto: xinhuanet.comVIDEO: China, lovită de două tornade violente; Cel puțin 10 morți și sute de rănițiO nouă catastrofă a lovit China în cursul zilei de vineri. Tornadele au ucis cel puțin 10 persoane în centrul și în estul țării și au rănit alte peste 300 de oameni. Șase persoane au murit în orașul Wuhan și alte patru în orașul Shengze, la aproximativ 400 de kilometri est de provincia Jiangsu, au declarat autoritățile locale. Mai multe clădiri au fost distruse iar instalațiile de electricitate au fost avariate, scrie Mediafax. Autoritățile au anunțat și aici șase persoane decedate și alte 218 rănite.
Persons: Tornadele, Furtuna Organizations: Mediafax Locations: China, Wuhan, Shengze, Jiangsu, Suzhou, Shanghai
O femeie din China a aflat în ziua nunții fiului său că proaspăta sa noră e chiar fiica ei, pe care o pierduse cu ani în urmă. Și-a dat seama de acest lucru după un semn din naștere de pe mâna miresei. Când a văzut semnul de pe mâna miresei, ea i-a întrebat pe părinții ei dacă aceasta a fost adoptată. Femeia și fiica sa pierdută s-au îmbrățișat plângând apoi. Femeia a decis să îl adopte pe băiat după ce-și pierduse speranțele că-și va mai regăsi fata pierdută vreodată.
Persons: . Organizations: New, New York Post Locations: China, chineză, New York
Jiangsu Suning, echipa antrenată de românul Cosmin Olăroiu, a cucerit titlul în China. Formația sa a câștigat cu 2-1 la general finala cu campioana en-titre Guangzhou Evergrande, pregătită de fostul internațional italian Fabio Cannavaro. Gruparea lui Olăroiu a deschis scorul prin Eder, care a înscris chiar din lovitura libera acordată. Jiangu Suning a câștigat pentru prima dată titlul de campioană în Superliga chineză. Tehnicianul român Cosmin Olăroiu și-a trecut un nou trofeu în palmares, după ce a mai cucerit titlul în România, Arabia Saudită și Emiratele Arabe Unite.
Persons: Jiangsu, Cosmin Olăroiu, Fabio Cannavaro, Ospeții, Olăroiu, brazilianul Alex Teixeira, Cannavaro, Jiangu Locations: China, -, Guangzhou, Suzhou, Eder, Shibizao, Superliga chineză, România, Arabia Saudită, Emiratele Arabe Unite
Această clădire a fost planificată în Kuweit, stat situat în Peninsula Arabică. Royal TowerTurnul Regal, care depășește cea mai înaltă clădire din lume, „Burj Khalifa”, se construiește în Arabia Saudită și va fi prima clădire din lume a cărei înălțime se apropie de un kilometru. Aceasta va găzdui condominii de lux, spații pentru birouri, observatorii astronomice, hotel Four Seasons și cea mai înaltă terasă din lume. Shanghai TowerConstrucția Turnului Shangai din China, cu 121 etaje, a început în 1993 și a fost încheiată la începutul anului 2015, iar acum au loc lucrările de finisaj. World OneZgârie-norul cu 117 etaje va deveni cea mai înaltă casă de locuit din lume și, desigur, cea mai înaltă clădire din Mumbai.
Persons: Giorgio Armani, Abdullah, James Bond, Lotte, Veronica Organizations: Royal, Regal, Mall, Agora Garden, Lotte World Tower Locations: Kuweit, Peninsula Arabică, Arabia Saudită, Shanghai, China, rusă, Dubai, Mumbai, Indiei, Seul
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