DIRS.INFO The most relevant business & tech news

☆ China’s biggest policy meeting in six years kicks off this week. How investors can play it
▼ + stars: | 2024-07-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The more dire predictions for China's highly anticipated "Third Plenum" that kicks off Monday hint at constraining the financial sector, despite slowing economic growth. Policy has long been an important guide for investors in China's top-down economy. The official English summary listed four measures, the third of which called for developing the "real economy," and "guarding against a shift from the real economy toward the financial economy." Goldman Sachs on July 11 published a lengthy report on China solar in anticipation the industry is nearing a bottom. One of the Goldman Sachs analysts' newly initiated, buy-rated China solar stocks is Daqo New Energy , a U.S.-listed manufacturer of polysilicon for solar power companies.

Persons: it's, Dan Wang, Han Wenxiu, Goldman Sachs, bode, Jacqueline Du, Daqo, Si Fu, Wang Organizations: Hang Seng Bank, ” Finance, Central Committee's Office, Financial, Economic Affairs, CNBC, Communist Party's, Committee, Bank of America, Energy, Goldman Locations: China, Beijing, China's, U.S, Shanghai

☆ Russia's showing NATO its hand in the air war over Ukraine
▼ + stars: | 2024-07-13 | by ( Sinéad Baker | Jake Epstein | ) www.businessinsider.com time to read: +21 min

Experts told Business Insider the Ukraine war has underscored how some elements of modern air combat are radically changing. And in fights like Desert Storm and the Iraq War, the West established air superiority by taking out its opponent's air defenses. The Russian air force can't meet Western air forces air to air in a major attack without being "shot to pieces," Bronk said. "Nobody really wants an air war with Russia," said John Baum, a Mitchell Institute expert and retired US Air Force lieutenant colonel. "It is not a highly desirable thing, I think, from either side, to want to have this air war."

Persons: It's, Justin Bronk, hasn't, DIMITAR DILKOFF, Bronk, Andrew Curtis, Mark Cancian, Guy Snodgrass, Hoshang, Giorgio Di Mizio, David Allvin, it's, James Hecker, NATO hadn't, " Hecker, that's, Maxim Shemetov, Fabian Hinz, Riivo Valge, Mattias Eken, They're, Paula Bronstein, Anthony Sweeney, US Army Cancian, REUTERS Lockheed Martin, Timothy Wright, disaggregation, Schmuelgen Jarmo Lindberg, Evelyn Hockstein Valge, John Baum Organizations: Kyiv, NATO, Business, Royal United Services Institute, Western, Getty, US Air Force, Storm, Marine, Center for Strategic, International Studies, Russian Defense Ministry Press, AP Russia, AP, Hudson Institute nonresident, International Institute for Strategic Studies, REUTERS, RAND Corp, Patriots, US Army, West, Patriot, Ukraine, REUTERS Lockheed, Finnish Defense Forces, Eurofighter Typhoons, Mitchell Institute Locations: Ukraine, Russia, Russian, AFP, Iraq, Europe, West, Afghanistan, Baltic, Western Europe, Estonian, Finnish, Finland, Washington

☆ China gears up for next week's Third Plenum meeting. Here's why real estate isn't likely the main focus
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — China's real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on other areas — such as high local government debt levels and a push for advanced manufacturing. "For real estate markets, I don't think it should be a focus of the plenum, because it's already [in a] state that everyone has a consensus [on]," Wang said. watch nowIn his view, excessive growth of the financial sector was behind the hollowing out of the U.S. industrial sector. "Consequently we must constrain the financial industry, including real estate. That's the underlying reason for tightened regulations on both real estate and finance."

Persons: Larry Hu, Hu, Xi Jinping, Deng Xiaoping's, Dan Wang, She'll, it's, Wang, hasn't, Yao Yang, Yao, Goldman Sachs Organizations: Chinese Communist Party, Bloomberg, Getty, BEIJING, Communist Party of, Macquarie, CNBC, Central Committee, Communist Party, Party, President, Hang Seng Bank, HSBC, HSBC It's, Committee, China Center for Economic Research, Peking University, U.S, China Morning Post, Financial Regulatory Administration, World Bank, Big Data Locations: Communist Party of China, Beijing, China, United States, Big Data China

☆ China's imports unexpectedly drop in June, but exports beat forecasts
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Cfoto | Future Publishing | Getty ImagesBEIJING — China's imports fell in June, missing expectations for slight growth, while exports rose more than expected, customs data released Friday showed. China's imports fell by 2.3% in June from a year ago in U.S. dollar terms. Those figures lifted year-to-date imports by 2%, and exports by 3.6% in the first six months compared with the same period a year earlier. watch nowEU's trade with China fell in the first six months of 2024, with imports and exports both declining. China's trade with the U.S. was down slightly in dollar terms during the first half of the year, as imports from the U.S. fell 4.9%, though exports rose 1.5%.

Organizations: Getty, BEIJING, U.S ., Association of Southeast Asian Nations, European Union, U.S Locations: Qingdao, Shangdong, China, U.S, Brazil

☆ U.S. inflation likely to continue to decelerate, analyst says
▼ + stars: | 2024-07-11 | 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 EmailU.S. inflation likely to continue to decelerate, analyst saysDaniel Casali, chief investment strategist at Evelyn Partners, comments on the U.S. inflation print, laying out the three reasons he sees inflation continuing on a path of deceleration.

Persons: Daniel Casali, Evelyn Organizations: Evelyn Partners

☆ China's robotaxi push sparks concerns about job security for drivers
▼ + stars: | 2024-07-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Wuhan is the largest operational region for Baidu's Apollo Go, one of the largest robotaxi operators in China. CNBC was unable to independently verify the document, which claimed the taxi company had to stop operating four of its 159-car fleet since April due to falling income. Ride-hailing drivers on the riseA surge of new companies and ride-hailing drivers have meanwhile prompted some local governments to restrict the industry. China had more than 7 million registered ride-hailing drivers as of the end of May, according to the Ministry of Transport. In comparison, the U.S. had nearly 400,000 taxi and ride-hailing drivers, shuttle drivers and chauffeurs in 2022, according to the latest available figures from the Bureau of Labor Statistics.

Persons: Baidu, robotaxis, Goldman Sachs Organizations: Baidu, Bloomberg, Getty, BEIJING, Weibo, CNBC, Ministry of Transport, Bureau of Labor Statistics Locations: Wuhan, San Francisco, Phoenix , Arizona, Beijing, Guangzhou, robotaxis, China, Wuhan city, Guyuan, Ningxia, Guiyang, That's, U.S

☆ China's inflation numbers miss expectations, rising 0.2% in June
▼ + stars: | 2024-07-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Consumers are shopping at a supermarket in Qingzhou, China, on June 12, 2024. BEIJING — China's consumer price inflation rose by 0.2% in June from a year ago, missing expectations, while producer prices fell in-line with forecasts, data from the National Bureau of Statistics on Wednesday showed. China's consumer price index was expected to rise by 0.4% year-on-year in June, according to a poll by Reuters. The producer price index, which measures factory-gate prices, dropped by 0.8% from a year ago — in line with expectations. Core CPI, which strips out more volatile food and energy prices, rose by 0.6% year-on-year in June, slightly slower than the 0.7% increase for the first six months of the year.

Organizations: National Bureau, Statistics, Reuters, CPI Locations: Qingzhou, China, BEIJING

☆ Soaring U.S. stocks make China’s market look worse than it is. Names to watch
▼ + stars: | 2024-07-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mainland China investors these days are often focused on how well U.S. stocks are doing — and bemoaning tepid performance at home. But a look at first-half performance shows that many China stocks still rose by double-digits, including a few artificial intelligence plays. Zhongji Innolight Ranking third in CSI 300 performance in the first half was Zhongji Innolight, which climbed 70%. Nomura rates Zhongji Innolight a buy and its analysts met with the optical communication company in late June. The broad mainland China stock market, measured in Class A shares, has underperformed over the past two years, said Wanda Wang, a research manager at Morningstar.

Persons: BofA, Nomura, Wanda Wang, That's, Invesco's, — CNBC's Michael Bloom Organizations: Nvidia, CSI, Apple, Foxconn, Bank of America Securities, Industrial, FII, Avary Holding, Avary, Chartered Bank, HSBC, JPMorgan, Nomura, Nasdaq, U.S, Morningstar, Capital, Shenzhen Stock Exchange Locations: China, Shanghai, Shenzhen, Avary Holding Shenzhen, Hong Kong

☆ Hong Kong's IPO market is finally starting to turn around, consulting firm EY says
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Hong Kong Exchanges and Clearing celebrates the 24th anniversary of its listing on June 21, 2024. "We are seeing more of these [U.S. dollar] funds, they are moving back to Hong Kong. "I would say if the interest rate can be further cut down, 1% maybe, that would have a significant effect on the IPO market," Chan said. Hong Kong IPO returns are improving. "These things added together are projecting an upward trend for the Hong Kong market [in the] next 5 years."

Persons: George Chan, Chan, EY, Hong Kong, Marcia Ellis, Morrison Foerster, Hong Kong IPOs, China IPOs, Bonnie Chan, EY's George Chan, EY's Chan Organizations: Hong Kong Exchanges, China News Service, Getty, CNBC, Information, HK, China Securities Regulatory, Hong Kong . Investors, U.S . Federal Reserve, Hong Kong Stock Exchange, Hong, Hong Kong Locations: BEIJING, Hong Kong, China, U.S, Shanghai, Hong, Greater China

☆ China hopes to reach a solution with the EU on EV tariffs 'as soon as possible'
▼ + stars: | 2024-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. BEIJING — China hopes to reach an agreement with the European Union soon on the bloc's planned tariffs for imported Chinese electric cars, the Ministry of Commerce said Thursday. The European Commission announced in mid-June that if discussions with China did not go well, the bloc would start to impose additional duties on imported Chinese EVs on Thursday, July 4. "Definitive measures" would take effect four months after that date, according to a press release. He reiterated China's opposition to the European Union's anti-subsidy probe and pointed out the two sides still have a four-month window.

Persons: Yadong Organizations: Jiangling Motors, European Union, Ministry of Commerce, European Commission, Commerce Ministry, CNBC Locations: Jiangling, BEIJING, China

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

That's slightly more than Nio 's 87,426 deliveries for the first six months of 2024, although Nio continued to recover from sluggish performance earlier in the year with a record 21,209 deliveries in June. BEIJING — Chinese electric car company Zeekr said Monday it delivered a record number of vehicles in June, making its deliveries for the first half of the year the largest among U.S.-listed Chinese companies only selling pure electric cars. Plug-in hybrid cars accounted for a slightly greater share than battery electric vehicles, and saw faster growth at 39.5% versus 17.7% for battery-only cars. Car companies need to improve the battery charging process, Wan Gang, the man credited with spearheading China's electric car strategy, said at a conference last week. As part of efforts to boost consumption, China this year has launched a trade-in policy to incentivize new energy vehicle sales.

Persons: Li Auto, Xpeng, That's, Nio, Zeekr, Huawei's, BYD Organizations: SEA, Li, U.S, Gang, China Passenger Car Association Locations: BEIJING, Hong Kong, China, Beijing

☆ Morgan Stanley says this is the stock to play China's EV industry consolidation
▼ + stars: | 2024-06-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Morgan Stanley has resumed coverage of Hong Kong-listed Geely with an overweight rating on expectations the Chinese automaker can weather macro and industry uncertainties. "We see Geely as a beneficiary of market consolidation," Morgan Stanley Asia equity analyst Tim Hsiao and a team said in a June 25 report that resumed coverage of the stock. Hangzhou-based Geely entered China's auto industry in 1997 and is known for acquiring Volvo in 2010. But the company raised the share of its new energy vehicles to 32% so far this year, higher than peers such as Great Wall Motor, for which the share is 23%, the Morgan Stanley analysts pointed out on Tuesday. The Morgan Stanley analysts on Tuesday set a price target of HK$11.20 ($1.43), about 27% above where shares closed Friday.

Persons: Morgan Stanley, Tim Hsiao, Geely, PHEV, Morgan Stanley's, BYD, bode Organizations: U.S, European Union, Lynk, Volvo, HK Locations: Hong Kong, Morgan Stanley Asia, Hangzhou, New York, China, EVs

☆ Chinese smartphone maker Honor says AI's power is 'worthless' without data privacy
▼ + stars: | 2024-06-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

watch now"Without data security and user privacy protection, AI will become worthless," Zhao said in Mandarin, translated by CNBC. But I believe on-device AI, in its capabilities and empowerment of consumers, will become more and more intimate, more and more understanding." "It will give consumers more support and help them interact with the future AI world," he added. He said a system collecting lots of user data to deliver more personalized features becomes a "stronger" object compared to the individual using the system. The Honor Magic V2, the latest foldable smartphone from the Chinese manufacturer, is on display at the Mobile World Congress 2024 in Barcelona, Spain.

Persons: George Zhao, John Hoffman, Zhao, Apple, OpenAI's Organizations: Shanghai Mobile, Congress, CNBC, Apple, Mobile, Apple Intelligence, Baidu, Google, Nurphoto, Getty Locations: HANGZHOU, China, U.S, Shanghai, Barcelona, Spain

HANGZHOU, China — Apple 's mixed-reality headset began deliveries in China on Friday with a retail price roughly 18% higher than in the U.S. The device starts at 29,999 yuan ($4,128) in China, compared with a $3,500 retail price in the U.S. When asked by CNBC, a customer surnamed Chen in Beijing said his suggestion to Apple CEO Tim Cook was to make Vision Pro cheaper by about 10,000 yuan ($1,376). Greater China accounted for about 18% of Apple's revenue in the three months ended March 30, according to an Apple filing. Chen pre-ordered his Vision Pro and was at a major store in Beijing to pick it up and receive some training on how to use it.

Persons: Chen, Tim Cook, salespeople Organizations: U.S, CNBC, Vision, Apple, Huawei, Beijing — Locations: HANGZHOU, China, U.S, Beijing, Weibo, Greater China

☆ China sets mid-July for highly anticipated ‘Third Plenum’ meeting to discuss 'deepening reform'
▼ + stars: | 2024-06-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

NINGBO, China — China's top leaders will gather from July 15 to 18 for a highly anticipated meeting known as the Third Plenum, state media said Thursday. He said his analysis of an annual government meeting in December found the readout had twice as many mentions of policy implementation than the prior year, highlighting its importance. The Communist Party of China selected a new group of leaders in October 2022 at its 20th National Party Congress. Its third plenary session will run from July 15 to July 18, state media said. The plenum will discuss "further comprehensively deepening reform and advancing Chinese modernization," English-language state media said.

Persons: Pang Ming Organizations: Communist Party of, National Party Congress Locations: NINGBO, China, Communist Party of China

☆ Crypto industry super PAC is 33-2 in primaries, with $100 million for House, Senate races
▼ + stars: | 2024-06-26 | by ( Emily Wilkins | ) www.cnbc.com time to read: +6 min

Yet crypto's Fairshake PAC also got into the race and spent $2 million to air an ad critical of Bowman. But it's not just money that the crypto industry plans to deploy this fall. Jordan Vonderhaar | Bloomberg | Getty ImagesThe effort is also meant to showcase a matured crypto industry. Meanwhile, Democratic incumbent Sen. Jon Tester told "Meet the Press" in 2022 that crypto did not "pass the smell test." Tester told reporters that he is keeping an open mind about several crypto bills before the Senate.

Persons: Jakub Porzycki, Jamaal Bowman, George Latimer, Israel, crypto's, Bowman, Fairshake, glided, John Curtis, Jamal Bowman, Evelyn Hockstein, Andreesen Horowitz, Coinbase, it's, Crypto, Brad Garlinghouse, Garlinghouse, Jordan Vonderhaar, Sam Bankman, Faryar Shirzad, Goldman Sachs, Sherrod Brown, Republican Bernie Moreno, Tim Sheehy, Sen, Jon Tester, Tester, Brett Kavanaugh, Kavanaugh, Mike Segar Organizations: Nurphoto, Getty Images WASHINGTON, Fairshake PAC, Westchester, Republicans, Democrats, Republican, United States Capitol, Reuters, CNBC, Bloomberg, Getty, White, Senate, Democratic, SEC, U.S Locations: Westchester County, Bowman's, Washington, Fairshake, Austin , Texas, Ohio, Montana

☆ China's EV architect says investing in Europe is a way forward
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.

Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe

☆ The yuan's status as a global currency might be gaining ground. But top CEOs see more hurdles to clear
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Beijing has long touted its ambitions for increasing global use of the Chinese yuan — also known as the "renminbi" or "RMB" — in an international financial market where the U.S. dollar is the dominant currency. watch nowLast year, the HKEX announced a "Dual-Counter" program that allows investors to trade Hong Kong-listed securities in Hong Kong dollars or Chinese yuan. The euro was slightly higher at 5.6%, while the U.S. dollar dominated with a nearly 85% share, the data showed. A maturing financial marketDeveloping more Chinese yuan-denominated investment products also requires a maturation of the local financial sector.

Persons: China’s renminbi, Athit Perawongmetha, Bonnie Chan, Chan, We're, SWIFT, Fred Hu, Hu, it's, Patience, Kenny Lam Organizations: Reuters, Hong Kong Exchanges, U.S ., International Monetary Fund, U.S, Primavera Capital, Sigma Asia Locations: U.S, Bangkok, Thailand, Reuters DALIAN, China, Beijing, Russia, Dalian, Hong Kong, Shanghai, Pacific

☆ China's premier defends national competitiveness as trade tensions simmer
▼ + stars: | 2024-06-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

China's Premier Li Qiang speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Denis Balibouse | ReutersDALIAN, China — Chinese Premier Li Qiang on Tuesday defended the country's technological development while criticizing efforts to restrict global cooperation. His remarks, at the opening of the World Economic Forum's "Summer Davos" meeting in Dalian, China, came amid rising tensions with the EU over imports of Chinese electric cars. Andrzej Duda, president of Poland, and Pham Minh Chinh, prime minister of Vietnam, gave remarks after Li. The Chinese premier held state-level meetings in China with the two leaders ahead of the "Summer Davos."

Persons: Li Qiang, Denis Balibouse, Li, Andrzej Duda, Pham Minh Chinh, Duda Organizations: Economic, Reuters, EU Locations: Davos, Switzerland, Reuters DALIAN, China, Dalian, U.S, Poland, Vietnam, Beijing, Washington

☆ Cisco is 'very optimistic' about its expanding business with China EVs
▼ + stars: | 2024-06-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

DALIAN, China — Cisco is "very optimistic" about its growing business with Chinese electric car companies as they expand overseas, the company's Greater China head told CNBC on Tuesday. The EV segment is the U.S. tech giant's second-largest for the region — Cisco generates most of its revenue in Greater China from manufacturing companies, and within that, electric cars form the largest category, said Ming Wong, vice president and CEO of Cisco Greater China. Chinese EV-makers have ramped up their global expansion in the last year as domestic competition intensified. However, trade tensions have escalated, with the U.S. and likely the European Union, increasing tariffs on imports of Chinese electric cars. "At least as of now, we don't hear anything from the [EV] customers saying that, 'Oh, because of this, we need to stop investing, or we need to slow down,'" he added.

Persons: Ming Wong, Wong, It's Organizations: Cisco, CNBC, U.S, European Union Locations: DALIAN, China, U.S, Greater China, Cisco Greater China

☆ China growth worries have hit a big alcohol stock. Why some analysts see a buy opportunity
▼ + stars: | 2024-06-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

"Flying Fairy," a 53% alcohol from Shanghai-listed Kweichow Moutai , saw wholesale prices drop by more than 5% in a week. He agreed the drop in wholesale prices won't have a big impact on Moutai's immediate earnings. What's also different about Moutai's stock decline is that investors aren't rushing in to bottom fish as they have in the past, Ye said. "The recent wholesale price drop we think is mostly triggered by the arbitragers in the market," Morningstar's Song said. She expects wholesale prices to increase in coming months given major Chinese holidays in the fall.

Persons: stoking, That's, Jennifer Song, Song, Kweichou Moutai, Ye Yuhua, What's, Ye, Moutai, Huatai, Moutai's, Goldman Sachs Organizations: Nomura, Morningstar, Stock, Capital, Financial Holdings, JPMorgan, Macquarie Locations: Shanghai, Guangzhou, Hainan

☆ China talks up support for IPOs. Investors are watching the speed of approval
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mike Segar | ReutersBEIJING — Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings in the near future. The new policy included a section on expanding exit channels for venture capital, with an emphasis on supporting companies with technological breakthroughs. Investors, especially those who put U.S. dollars into China-based venture capital funds, have preferred IPOs in the U.S. as the largest and most liquid market. Separately, the U.S. has increased its scrutiny of U.S. capital going into China, especially military-related entities. The China Securities Regulatory Commission has increased fines for misleading investors and clarified requirements for overseas IPOs.

Persons: Mike Segar, Marcia Ellis, Morrison Foerster, Ellis, Winston Ma, Ming Liao, Didi, Morrison Foerster's Ellis, Fang Xinghai, Fang Organizations: New York Stock Exchange, Reuters, State Council, U.S, Venture, NYU School of Law, Investors, Prospect, CNBC, China Securities Regulatory Commission Locations: Manhattan, New York City , New York, U.S, Reuters BEIJING, China, Prospect Avenue, Hong Kong, London

☆ China has spent at least $230 billion to build its EV industry, new study finds
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Future Publishing | Future Publishing | Getty ImagesBEIJING — China spent $230.8 billion over more than a decade to develop its electric car industry, according to analysis published Thursday by the U.S.-based Center for Strategic and International Studies. Last month, the U.S. announced it was raising duties on imports of Chinese electric vehicles to 100%. There are some exceptions, but in general Western automakers and governments have dilly dallied and not been aggressive enough. But he also noted that the U.S. has not created conditions that are as attractive as China's for developing its own electric car industry. "There are some exceptions, but in general Western automakers and governments have dilly dallied and not been aggressive enough," he said.

Persons: Scott Kennedy, Kennedy, Tesla Organizations: Workers, SAIC, GM, Future Publishing, Getty, Strategic, International Studies, CSIS, U.S, Ministry of Finance, Bank of America, Western, EV Locations: Qingdao, Shandong, BEIJING, China, U.S

☆ Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady
▼ + stars: | 2024-06-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high. Next year, "as the Fed begins to cut policy rates we think that should give a bit more space for the PBOC to maneuver," he said. The Fed last week held steady on its key interest rate and indicated just one cut by the end of the year. That contrasts with investor expectations heading into 2024 that the Fed would soon ease monetary policy after aggressively hiking rates.

Persons: Fitch, Jeremy Zook, Zook Organizations: People's Bank of China, BEIJING —, U.S . Federal Reserve, U.S ., People's Bank of, Fed Locations: Beijing, China, BEIJING, People's Bank of China, Asia Pacific

Search resuls for: "EVELYN"

25 mentions found