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☆ Get the most out of these tax-favored accounts in 2025
▼ + stars: | 2024-11-20 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Benefits enrollment season is here, and with it comes an opportunity for workers to tune up their workplace savings plans and sock away more money on a tax-favored basis. Traditional tax-deferred accounts, like 401(k) plans and individual retirement accounts, are just the beginning for savers. As tempting as it may be for savers to plow money into HSAs and other tax-favored accounts, they'll need to draw up a strategy before they do so. They can also earmark additional funds toward 529 college savings plans and taxable brokerage accounts. In a tax-deferred account, investors won't be on the hook for the tax bill until they begin drawing down from it.

Persons: Marguerita Cheng, Cheng Organizations: Devenir, Blue, Global Wealth, UBS, Chief Investment Locations: Gaithersburg , Maryland

But one thing is missing from the storied British carmaker Jaguar's new rebrand: cars. In a press release accompanying its rebrand, Jaguar's chief creative officer, Sir Gerry McGovern, explained the thinking behind the rollout. Jaguar sold fewer than 67,000 cars in the entire world last year, approximately half the number it sold in the fiscal year incorporating the beginning of the Covid-19 pandemic. In response to other X users asking why the ad didn’t feature any cars, Jaguar’s X account responded, “The story is unfolding. That ethos is seen in our new brand identity today and will be further revealed over the coming months.

Persons: Bud Light's, Lulu Cheng Meservey, grads, Sir Gerry McGovern, Adrian Mardell, ”, Rawdon Glober Organizations: Rostra, Jaguar, Art, Rover, Tata Motors Locations: U.S, Art Basel, India

☆ Women prefer to play mobile games. China's Tencent sees an opportunity
▼ + stars: | 2024-11-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Tencent's Honor of Kings mobile game drew a record 33,000 fans to watch a final competition in Beijing on Nov. 16, 2024. Surprisingly, many in the crowd were young women, reflecting how interest in mobile games has broadened out from the stereotypical male player in the days of console and PC gaming. Honor of Kings, which claims 100 million players a day, uses a similar format with two teams of five players each. His analysis found that 95% of women prefer mobile games. A newly branded Honor of Kings global championship was held last month in Jakarta, Indonesia's capital, with Malaysian team Black Shrew Esports winning the $300,000 first prize.

Persons: Evelyn Cheng, Kings, Gao, of, Jackie Huang, Huang, Xiaofeng Zeng, Niko Partners, Zeng Organizations: Kings, CNBC, of Valor, of Kings, global, Tencent, Gaming, Riot, Malaysian Locations: Beijing, Evelyn Cheng BEIJING, China, Shanghai, Riyadh, Saudi Arabia, Chinese, North America, Europe, Japan, U.S, India, Malaysia, Indonesia, Southeast Asia, Jakarta

☆ Morgan Stanley picks China stocks to ride out a worst-case scenario in U.S. tensions
▼ + stars: | 2024-11-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

For investment options, she referred to the firm's survey of China stocks the investment bank's analysts already cover. Morgan Stanley's basket of bear case stocks only includes overweight-rated names with a dividend yield above 4% this year. The companies must not be on Morgan Stanley's lists of stocks at a disadvantage from Republican policy and supply chain diversification. Morgan Stanley expects Tingyi's earnings per share to grow 12% this year and 11% in 2025. Sinotruk earnings can grow 18% this year and 17% next year, according to Morgan Stanley estimates.

Persons: Morgan Stanley, Laura Wang, Morgan Stanley's, Morgan Stanley's Wang, Morningstar, Claire Liang, Liang, Donald Trump, Trump Organizations: Kong, PepsiCo, Services, Cosco Shipping Energy Transportation, China, CNBC, Republican Party, U.S . Congress Locations: China, Hong Kong, Asia, Europe, Mexico

☆ China retail sales beat forecasts in October while real estate slump worsens
▼ + stars: | 2024-11-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's retail sales rose more than expected in October, while industrial production and investment data missed forecasts as the real estate drag worsened. Industrial production rose by 5.3% in October from a year ago, missing expectations of 5.6% growth. Investment in real estate for the January to October period fell by 10.3% from a year ago, steeper than the 10.1% drop seen in the January to September period. While infrastructure and manufacturing investments picked up slightly in the year-to-date period as of October, versus that of September. The central bank has cut interest rates and extended existing real estate support.

Organizations: Retail, National Bureau of Statistics, Ministry of Finance Locations: Shanghai, BEIJING

☆ Chinese AI startup takes aim at OpenAI's Sora with image-to-video tool launch
▼ + stars: | 2024-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

The tool can create videos from text or image prompts. BEIJING — Beijing-based Shengshu Technology on Wednesday said that its artificial intelligence-powered text-to-video tool Vidu will now be able to generate videos by combining multiple images. While OpenAI — the maker of ChatGPT — in February revealed that its AI model Sora could generate one-minute videos from text, it has yet to release that publicly. Other platforms claim they can turn text or images into videos using AI, but the quality of output varies. Vidu launched in April and its ability to turn two profile photos into lifelike videos of people hugging went viral on TikTok.

Persons: OpenAI, —, Shengshu, Bao, Vidu Organizations: Technology, CNBC Locations: BEIJING — Beijing

☆ Tencent posts better-than-expected 47% profit surge as games, AI tools shine
▼ + stars: | 2024-11-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Chinese tech company Tencent is a gaming giant and the parent company of WeChat, the ubiquitous social messaging app in China. Cheng Xin | Getty Images News | Getty ImagesChinese social media and gaming company Tencent on Wednesday reported better-than-expected profit in the third quarter ended Sept. 30, spurred by growth in games, advertising and cloud services. Tencent reported profit attributable to shareholders surged by 47% year-on-year to 53.23 billion yuan ($7.37 billion) in the third quarter, compared with an LSEG estimate of 46.18 billion yuan for the period. The company's revenue rose by an annual 8% to 167.19 billion yuan, short of the 167.82 billion yuan analyst forecast. Marketing services revenue, previously called online advertising, surged by an annual 17% to 29.99 billion yuan, making it one of the fastest-growing categories outside gaming.

Persons: Cheng Xin, Tencent Organizations: Getty, Management, Gaming, Global Locations: WeChat, China, Weixin

☆ China's biggest shopping event of the year exceeds low expectations
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Singles' Day shopping festival saw consumers spend more than expected in what has otherwise been a tepid retail environment, consulting executives told CNBC. "I do think for many brands it probably will have turned out a bit better than they thought, but on a low level. Probably nobody would say we hit it out of the ballpark," said Chris Reitermann, CEO of Ogilvy APAC and Greater China. Many multinational corporations that sell consumer products in China are more cautious on the market, if not struggling, Reitermann said. But he pointed out many of the companies are still "very profitable" in the country, even if their growth has slowed to the low single digits, instead of high double digits.

Persons: Major, Chris Reitermann, Ogilvy APAC, Reitermann, Alibaba, JD.com Organizations: BEIJING, CNBC, WPP China Locations: Greater China, China, GMV

☆ Want to cash in on China's stimulus? Here's what the pros expect next
▼ + stars: | 2024-11-12 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Chinese markets are back in the spotlight after a slew of government stimulus measures over recent weeks. "I think the right way of looking at what China's up to, really, is to see it as a process," he told CNBC's "Street Signs Asia" on Monday. His comments come as China's Ministry of Finance signaled Friday that more fiscal support could come next year . Stocks to watch As investors ponder how to navigate the Chinese market, Bernstein said there are attractive opportunities in "growth and high volume stocks [aligned] with policy led rebound." Both Tencent and Meituan trade on the Hong Kong Exchange and in the U.S. as American Depository Receipts (ADR) under the ticker TCEHY and MPNGY .

Persons: Jordan, CNBC's, we've, Paul Cavey, Donald Trump, Carey, Stocks, Bernstein, — CNBC's Evelyn Cheng, Michael Bloom Organizations: Pella Funds, Ministry, Finance, Asia Econ, Healthcare, China Internet, Hong, Hong Kong Exchange Locations: Pella, Asia, Real Estate, downgrades, China, Hong Kong, Tencent, U.S

Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024. Kissinger was deeply respected in China and continued to meet with its leaders as an unofficial diplomat in efforts to promote warmer relations between the two countries. Just months before Kissinger died in November 2023, he met with Chinese President Xi Jinping in Beijing in July 2023. They may not reach the same impact as Kissinger, given the more complex period, he said, though they could help stabilize relations. Cook and Schwarzman also regularly visit leaders in China, where they are often highlighted by Beijing as examples of positive China-U.S. business and trade relations.

Persons: Elon Musk, Donald Trump, Anna Moneymaker, Elon, Kissinger, Scott Kennedy, Henry Kissinger, Xi Jinping, Tesla, Li Qiang, Wang Yiwei, Wang, Musk's, Musk, Joe Biden, Biden, Trump, Wang Huiyao, Tim Cook, Blackstone, Stephen Schwarzman, Cook, Schwarzman, Dewardric Organizations: Getty, White, Economics, Center for Strategic, International Studies, U.S, SpaceX, Renmin University, CNBC, Trump, Center for, Longview Global Locations: Butler , Pennsylvania, Beijing, China, Washington, imploding, U.S, Center for China, Dewardric McNeal

☆ China's Alibaba releases AI search tool for small businesses in Europe and the Americas
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Alibaba International promotes its e-commerce platform for small businesses at the Canton Fair in Guangdong, China, on Oct. 16, 2024. BEIJING — Chinese e-commerce giant Alibaba on Tuesday unveiled an artificial intelligence-powered search engine for small businesses in Europe and the Americas to source supplies. Initial tests showed businesses' purchase intent using the new tool increased by 40% versus traditional search engines, according to Kuo Zhang, president of Alibaba.com and vice president of Alibaba International. The initial version is web-based and supports English, German, French, Portuguese and Spanish, according to the company. At the end of the search, the tool lists a number of procurement options for the business to discuss directly with each supplier.

Persons: Kuo Zhang, Alibaba.com, Harry Potter Organizations: Alibaba, Fair, Alibaba International, CNBC Locations: Guangdong, China, BEIJING, Europe, Americas

☆ Here's what a new Trump administration could mean for your money, financial advisors say
▼ + stars: | 2024-11-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Leah Millis | ReutersNow that Donald Trump has been elected president, many individual investors are wondering what that means for their money. Yet, when it comes to long-term performance of the markets and policies that Trump proposed on the campaign trail, financial advisors say it's best to take a wait-and-see approach before making any big money decisions. Lee Baker, a CFP and owner of Claris Financial Advisors in Atlanta, said he's also told clients not to make wholesale financial changes now. Many investors expect Trump to lead with faster economic growth and more market-friendly policies, said Francis during a Friday webcast on what Trump's presidency could mean for investors' money. While those policies would put more money in Americans' pockets, Francis noted, other experts say it's too soon to count on those changes.

Persons: Donald Trump, Leah Millis, Trump, Jude Boudreaux, Boudreaux, Lee Baker, he's, Baker, I've, Stacy Francis, Francis Financial, Francis, it's, Marguerita Cheng, Cheng, Trump's, David Haas, CNBC.com Organizations: Trump, U.S . Capitol, Reuters, Dow Jones, CNBC FA, Claris Financial, Francis, Blue, Global Wealth, Social Security, Cereus Financial, Security Locations: U.S, Washington , U.S, New Orleans, Atlanta, New York City, Gaithersburg , Maryland, Franklin Lakes , New Jersey

Chinese authorities last month announced high-level plans for subsidies and tax breaks to households with children under the age of 3. China's efforts to bolster birth rates have yet to address the core reasons for their rapid decline, according to analysts. Births in China have been on a drastic downward trend since the government implemented its "one-child policy" nationwide in 1980. An increasingly pressing factor for families in China is uncertainty about income for raising a child. After decades of rapid expansion, China's economy has slowed down, dragged down by a real estate slump.

Persons: Lauren Johnston, Harry Murphy Cruise, Austin Schumacher, Schumacher, Sheana Yue, Yue Organizations: Dongfang, China Studies Center, University of Sydney, United Nations, Moody's, Institute for Health Metrics, University of Washington, Oxford Locations: Lianyungang, China, U.S

☆ Three China stocks that analysts are watching for longer-term opportunities
▼ + stars: | 2024-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

For many, the reaction among investors only reinforced the need to look at longer-term opportunities in individual stocks that haven't changed. About half of Xpeng's 20,000-plus deliveries in each of the past two months have come from its lower-priced Mona M03 car. In the consumer sector, Macquarie's top pick is Yum China , which operates Pizza Hut and KFC in China. Yum China on Nov. 4 reported third-quarter earnings, showing operating profit grew by 15% year-on-year to $371 million. "You have to be very willing to suffer the negative sentiment to invest in China," Ren said.

Persons: Donald Trump, Shanghair, Liqian Ren, Ren doesn't, Ren, Anta, Fila, CNBC's Michael Bloom Organizations: Finance, U.S, CSI, Adidas, Fila, Baidu, Macquarie, KFC Locations: China, Hong Kong, WisdomTree, U.S

☆ China announces $1.4 trillion over five years to tackle local governments’ hidden debt
▼ + stars: | 2024-11-08 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +3 min

BEIJING — China on Friday announced the central government would allocate an additional 6 trillion yuan ($840 billion) to local governments for tackling hidden debt issues. The policies will reduce hidden debt from 14.3 trillion yuan to 2.3 trillion yuan by 2028, Lan said. At the parliamentary meeting, officials had reviewed a plan to increase the limit on how much debt local governments can issue, according to state media. The additional quota would go toward swapping out local governments’ hidden debt. Nomura estimates that China has 50 trillion yuan to 60 trillion yuan ($7 trillion to $8.4 trillion) in such hidden debt, and said it expected that Beijing could allow local authorities to increase debt issuance by 10 trillion yuan over the next few years.

Persons: of Finance Lan Fo’an, Lan, Xi Jinping, Donald Trump —, —, Nomura Organizations: Friday, of Finance, People’s Bank of, People’s Congress, U.S, Nomura, International Monetary Fund Locations: BEIJING, China, Beijing, People’s Bank of China, Covid

☆ Trump's win spells trouble for a luxury comeback in China
▼ + stars: | 2024-11-08 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

Luxury brands face uncertainty after Donald Trump won the US presidential election. His victory spells trouble for the sector's hopes of a comeback in China. AdvertisementAmerica has elected a new president, paving an uncertain future for luxury brands looking to boost sales in China. Tariffs further complicate luxury's China issuesChina has been a reliable cash cow for luxury brands for decades. AdvertisementNationalism's rise doesn't play well for luxuryTrump's return to the White House is a signal of a wider issue facing luxury brands — rising nationalism.

Persons: Donald Trump, —, Trump, Jelena Sokolova, Martin Roll, they'll, Cheng Xin, Gary Ng, Ng, Daniel Langer, Justin Sullivan, It's Organizations: Service, America, Beijing, Morningstar, Trump, McKinsey, Pepperdine University Locations: China, outflows, Russia, Europe

☆ China expected to announce highly anticipated fiscal stimulus package
▼ + stars: | 2024-11-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING – China is widely expected to unveil more stimulus on Friday after its parliament ends a five-day meeting. President Xi Jinping led a meeting on Sept. 26 that called for strengthening fiscal and monetary support, and stopping the real estate market slump. While the People's Bank of China has already cut several interest rates, major increases in government debt and spending requires approval by the country's parliament, called the National People's Congress. Analysts expect an increase in the scale of fiscal support after Donald Trump — who has threatened harsh tariffs on Chinese goods — won the U.S. presidential election this week. When discussing planned fiscal support at a press conference last month, Minister of Finance Lan Fo'an emphasized the need to address local government debt problems.

Persons: Xi Jinping, Donald Trump —, —, Finance Lan Fo'an Organizations: Hongkong, People's Bank of, People's Congress, U.S, Finance Locations: Shanghai, BEIJING – China, People's Bank of China, Beijing

☆ What Trump tariffs could mean for AI darling Nvidia
▼ + stars: | 2024-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wall Street is questioning how potential tariffs on imports under a Trump administration could affect artificial intelligence darling Nvidia and the broader industry . Earlier this year, Trump accused Taiwan of stealing the chipmaking business from the U.S. and said he would impose tariffs as president. NVDA 5D mountain Shares over the last week If the administration implements tariffs, Ives believes Nvidia could gain some workaround given its integral status. That could come in the form of excluding some of its next AI chips and graphics processing units from the tariff wave expected in spring 2025. Many investors also view Trump as a proponent of AI innovation.

Persons: Trump, Kamala Harris, Joe Biden, Jensen Huang, Dan Ives, Ives, Hua Cheng, Elon Musk, Musk, Mizuho's Jordan Klein Organizations: U.S, Taiwan Semiconductor Manufacturing, NVIDIA, Nvidia, Wedbush Securities, Bank of, Blackwell Locations: Taiwan, U.S, Mirova

☆ China urges U.S. cooperation as Trump trade threat looms
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A flag stall at the Yiwu Wholesale Market in Zhejiang province, China, on May 10, 2019. BEIJING — China emphasized the need for greater cooperation with the U.S., a day after it became clear President-elect Donald Trump would become the next leader of the White House. She was responding to a question about China's views and planned countermeasures, given the potential for increased U.S. tariffs and restrictions on high-end tech. "Together [we can] push China-U.S. economic and trade relations toward a stable, healthy and sustainable direction, for the benefit of both countries and the world," the commerce spokesperson said. Her comments echoed those of Chinese President Xi Jinping, who earlier in the day noted the benefits of bilateral cooperation in a congratulatory message to Trump, according to a Ministry of Foreign Affairs readout.

Persons: Donald Trump, Xi Jinping, Trump Organizations: U.S, White, China's Ministry of Commerce, CNBC, Ministry of Foreign Affairs Locations: Yiwu, Zhejiang province, China, BEIJING, U.S

☆ Lower your blood pressure with 5 more minutes of exercise, study says
▼ + stars: | 2024-11-07 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +5 min

Especially when such a small amount may improve your blood pressure, according to a new study. Researchers analyzed data from nearly 15,000 people who wore activity monitors and had their blood pressure tracked, according to the study published Wednesday in the journal Circulation. As little as five more minutes a day of exercise was associated with lower blood pressure, and just 10 to 20 minutes more as linked to a clinically meaningful change in blood pressure (defined as a reduction of 2mmHg of systolic blood pressure or 1mmHg of diastolic blood pressure), Blodgett said. Even five minutes more of exercise is associated with lower blood pressure, the study said. The answer for better blood pressure may be more than just a walk in the park, however.

Persons: CNN —, ”, Jo Blodgett, Blodgett, Susan Cheng, Busakorn, Cheng, Mark Hamer, “, ” Cheng, ” Blodgett, Shaan Khurshid Organizations: CNN’s, CNN, Institute of Sport, Health, University College London, Heart Institute, Sinai Medical Center, Getty, Massachusetts General Hospital, Harvard Medical School Locations: Los Angeles, Massachusetts

☆ Trump win and threat of more tariffs raises expectations for more China stimulus
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

On the campaign trial, Trump threatened to impose additional tariffs of 60% or more on Chinese goods sold to the U.S. She expects a stimulus package of more than 10 trillion yuan ($1.39 billion), with about 6 trillion yuan going towards local government debt swaps and bank recapitalization. More than 4 trillion yuan will likely go towards local government special bonds for supporting real estate, Su said. That divergence in stock performance indicates China's stimulus "will be slightly bigger than the baseline scenario," said Liqian Ren, who leads WisdomTree's quantitative investment capabilities. She estimates Beijing will add about 2 trillion yuan to 3 trillion yuan a year in support.

Persons: Zhu Baoliang, Trump, Su, Yue Su, —, Liqian Ren, Ren doesn't, Biden, Chris Miller, That's, China's, Zhiwei Zhang Organizations: Bund, Trump, Citigroup, U.S, Economist Intelligence Unit, National People's Congress, Huawei, Republicans, Senate, NBC, Republican Party, Emergency Economic, Trade Locations: Shanghai, China, Hong Kong, Beijing, U.S

☆ China's central bank affirms supportive monetary policy stance at closely watched meeting
▼ + stars: | 2024-11-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Pan Gongsheng, governor of the People's Bank of China, delivers a speech during the 2024 Lujiazui Forum on June 19, 2024 in Shanghai, China. BEIJING — The head of the People's Bank of China said in a closely watched meeting Tuesday that the central bank planned to maintain supportive monetary policy, according to state media. PBOC Governor Pan Gongsheng added that the central bank intended to “increase the intensity of counter-cyclical monetary policy," state media said in Chinese, translated by CNBC. Finance Minister Lan Fo'an addressed the committee Monday about a plan to increase the local government debt limit in order to replace hidden debt, state media said. Lan on Tuesday also presented a report on managing state-owned assets, according to state media.

Persons: Pan Gongsheng, Lan Fo'an, Lan Organizations: People's Bank of China, People's Bank of, CNBC, National, Committee, Finance, U.S Locations: Shanghai, China, BEIJING, People's Bank of China, U.S . Federal

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ China reviews plan to increase local government debt
▼ + stars: | 2024-11-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — A closely watched meeting of China's parliament standing committee on Monday reviewed a proposal to raise the local government debt limit, according to state media. New debt would go toward replacing hidden debt, the report said, noting that Finance Minister Lan Fo'an spoke at the meeting on the plan. Lan indicated at a press conference last month that an increase in the local debt limit was in the works. Local authorities in China have historically been responsible for much of public services spending, but have struggled financially as revenue from land sales to developers has dropped. China has about 50 trillion yuan to 60 trillion yuan (about $7 trillion to $8.45 trillion) in outstanding hidden debt, according to Ting Lu, chief China economist at Nomura.

Persons: Lan Fo'an, Lan, Ting Lu Organizations: of, Initiative, Local, Nomura Locations: Beijing, China, BEIJING

☆ Chinese driver-assist startup announces $100 million in funding, touts 'deep cooperation' with Nvidia
▼ + stars: | 2024-11-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

David Kirton | ReutersBEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia . The startup is also in "deep cooperation" with Nvidia, Zhou said, noting "in-depth discussions" with the chipmaker's CEO Jensen Huang. Zhou spoke on "Commercializing mass-produced autonomous driving solutions" at Nvidia's closely watched GTC AI conference in March. Those maps, used by autonomous driving companies such as Alphabet's Waymo, give a car a detailed picture of city streets. Chinese autonomous driving software developer WeRide went public on the Nasdaq last month, while robotaxi operator Pony.ai has filed for a U.S. IPO.

Persons: David Kirton, It's, Maxwell Zhou, Zhou, Jensen Huang, Deeproute, Orin, Japan Deeproute, Tesla, Elon, WeRide, Pony.ai Organizations: Reuters, Nvidia, Wall, CNBC, Huawei, Nasdaq, Industry Locations: Shenzhen, Guangdong province, China, Reuters BEIJING, Deeproute, U.S, Japan, California

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