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☆ China's property woes and U.S. sanctions have hit some cities hard
▼ + stars: | 2024-09-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — China's property struggles and U.S. sanctions have significantly affected some of its cities, even as others benefit from Beijing's tech push, Milken Institute's best performing cities China index showed Tuesday. Since 2015, the index has studied China's large- and mid-sized cities for their economic vibrancy and growth prospects. The index looked at a group of 33 large cities and a group of 217 small cities, then ranked them separately. Historically, Wong pointed out, having control of Zhengzhou, Hefei, and Wuhan have been critical to ensuring control of the country. Correction: This story has been updated to reflect that there are 33 large cities and 217 smaller cities in the index.

Persons: Milken Institute's, Perry Wong, Wong Organizations: CNBC ., U.S, CNBC, Wuhan Locations: HANGZHOU, CHINA, China Vanke, Hangzhou, Zhejiang province, China, BEIJING, Zhejiang, Zhuhai, Guangdong, Hong Kong, Dongguan, The, Shenzhen, Beijing, Zhengzhou, Henan province, Hefei, Wuhan, Anhui, Central China's Hubei

☆ China’s growing e-commerce market is creating a new set of winners
▼ + stars: | 2024-06-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said. The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026. Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said. The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion). The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.

Persons: James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom Organizations: Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong Locations: China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E

☆ I grew up in the West Bank under military occupation. Now I pay homage to my homeland through my fashion designs.
▼ + stars: | 2024-01-21 | by ( Yoonji Han | ) www.businessinsider.com time to read: +5 min

Read previewThis is an as-told-to essay based on a conversation with Rami Kashou, a Palestinian American fashion designer. I grew up during the second intifada under the Israeli military occupation. Courtesy of Rami KashouMaking clothes as a kid living in the West BankEven when I was younger, I was fascinated with fashion. AdvertisementIn the West Bank, making your own clothes was a way to be fashionable because we don't have much access to the rest of the world. Draping comes from a culture where women drape themselves in fabric, whether it's a shawl, a veil, or a long dress.

Persons: —, Rami Kashou, I'd, Elsa Klensch, sister's Barbies, Paris Hilton, Penelope Cruz, Kim Kardashian, I've Organizations: Service, Business, West Bank, US Locations: Palestinian American, Jerusalem, Ramallah, America, —, Hollywood, Palestine

[1/3] Hsiao Bi-khim, vice presidential candidate for Taiwan's Democratic Progressive Party (DPP) and former envoy to the United States, speaks to the media during a press conference in Taipei, Taiwan November 23, 2023. The opposition Kuomintang (KMT) and Taiwan People's Party (TPP) had previously agreed to work together against the ruling DPP but have made no progress on plans for a united presidential ticket. Lai and Hsiao, on the other hand, with a united party behind them, are moving ahead smoothly with their campaign. Their disagreement has gripped Taiwan for the past week, and both parties have insisted they still want to work together. At the Taipei hotel, Gou's campaign set up a digital clock counting down to Friday's election registration deadline of 0930 GMT.

Persons: Hsiao, Ben Blanchard, Lai Ching, Terry Gou, Lai, It's, Gou, Ko Wen, Hou Yu, Huang Shih, Huang, Yimou Lee, Sarah Wu, Jacqueline Wong, Robert Birsel Organizations: Taiwan's Democratic Progressive Party, REUTERS, Rights, Democratic Progressive Party, DPP, Kuomintang, KMT, Taiwan People's Party, TPP, ih, Thomson Locations: United States, Taipei, Taiwan, Rights TAIPEI, China, United, Beijing, Taiwan Strait

☆ Selling your home without a real-estate agent comes with a lot of grunt work, but could save you thousands. Here's how one owner did it.
▼ + stars: | 2023-11-12 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

Derrick Chou self-listed his New York City home in order to skirt real-estate agent commissions. He said he saved about $40,000, but had to deal with the "grunt work" agents usually handle. He also found himself besieged by relentless real-estate agents. It sold within the year to a buyer who also did not use a broker — a rarity in New York's competitive and inventory-starved real-estate market. Five years later, with two kids, Chou said he would work with an agent if he were to sell again.

Persons: Derrick Chou, —, brokerages, Chou, it's Organizations: New, New York City, Service Locations: New York, York City, New York City

☆ Esports joins Pan Am Games, but medals won't count
▼ + stars: | 2023-11-01 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

But any medals won will not be added to their country's official total as they were at the recent Asian Games where esports had full medal status and was one of the most popular events drawing huge enthusiastic crowds. Like the Asian Games the Pan Am competition will be closely watched by the International Olympic Committee (IOC) as Esports makes a push for a spot on the Olympic programme. While esports is making its Pan Am Games debut, gamers have been part of many other multi-sport competitions, including the Commonwealth and the European Games. One reason esports medals are not being counted at the Pan Am Games is that gamers are not subject to doping controls like every other athlete in Santiago. Authorities in Hangzhou ploughed $627 million into building a new esports venue while the Pan Am Games competition will be staged in a tent in a grassy corner of the Games fan zone.

Persons: SANTIAGO, Esports, esports, Paul Foster, Foster, Steve Keating, Toby Davis Organizations: Pan American, Asian, International Olympic Committee, Pan Am, Commonwealth, European, IOC, Global Esports Federation, Doping Agency, Esports, Ams, Pan Am Games, Thomson Locations: Sunday's, esport, Santiago ., Hangzhou, Santiago

☆ China Says It Uncovered Another Spying Case in US
▼ + stars: | 2023-10-22 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

The case is the latest to underscore Beijing's heightened commitment to national security, its expanded anti-spying laws and crackdown on domestic corruption. He also provided intelligence information in the field of national defense and the military industry on his own initiative, the report said. After investigations by the Chinese government, Hou was detained in July 2021 and charged on suspicion of espionage. In recent years, China has arrested and detained dozens of Chinese and foreign nationals on suspicion of espionage, raising the concerns of the U.S. over its counter-espionage push. Recently, China's spy agency published new details about a U.S. citizen jailed for life for espionage earlier this year.

Persons: Hou, Hou's, Bernard Orr, Sonali Paul Organizations: Ministry of State Security, U.S Locations: BEIJING, United States, Chengdu, U.S, American, China

☆ China says it uncovered another spying case in US
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +3 min

Persons: Dado Ruvic, Hou, Hou's, Bernard Orr, Sonali Paul Organizations: REUTERS, Rights, Ministry of State Security, U.S, Thomson Locations: Rights BEIJING, United States, Chengdu, U.S, American, China

Some users and analysts who bought the Mate 60 Pro say it uses a Chinese-made chip and is capable of 5G speeds. We are working overtime urgently to manufacture more so that more people can buy our products," Yu said. [1/4]People check a Huawei Mate 60 smartphone displayed at a Huawei flagship store in Beijing, China September 25, 2023. Huawei updated its official website after the event to add prices for its Mate 60 Pro+, which will start from 8,999 yuan ($1,230), and the Mate 60 RS Ultimate Design version, which is priced from 12,999 yuan. One shopper in the Beijing store, 29-year-old engineer Zhang Nianrong, said he saw the Mate 60 Pro as "carrying significance far beyond its value" and planned to buy it.

Persons: Gina Raimondo's, Apple's, Yu Chengdong, Yu, Maniler, Nelson Mandela, Florence Lo, Bryan Ma, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Zhang Nianrong, Yelin Mo, Brenda Goh, Sophie Yu, Himani Sarkar Organizations: Huawei Technologies, Huawei, U.S . Commerce, Weibo, REUTERS, IDC, Thomson Locations: BEIJING, SHANGHAI, China, Hong Kong, South Africa, Beijing, Iran, U.S, Washington

☆ Sixteen killed in accident at state-owned coal mine in China's Guizhou province
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Sept 25 (Reuters) - Sixteen people were killed in a coal mine accident in Panzhou city in southern China's Guizhou province on Sunday, according to a filing by the mine's owner, Guizhou Panjiang Refined Coal Co, with the Shanghai Stock Exchange on Monday. All coal mines in Panzhou city have suspending production for a day, according to Shanghai-based commodities consultancy Mysteel. The area has a total production capacity of about 52.5 million metric tons per year of mostly coking coal, representing about 5% of China's coking coal production capacity, according to Mysteel. The company operates seven coal mines with a total capacity of about 17.3 million tons. The mine where the accident took place has an annual capacity of 3.1 million tons, according to Mysteel.

Persons: Andrew Hayley, Gerry Doyle Organizations: Shanghai Stock Exchange, Reuters, Authorities, Thomson Locations: BEIJING, Panzhou, China's Guizhou, Guizhou, Shanghai, Inner Mongolia, Beijing

BEIJING/SHANGHAI, Sept 25 (Reuters) - Huawei Technologies (HWT.UL) kicked off a product launch event on Monday by thanking China for its support amid expectations the tech giant would later reveal more details on its latest Mate 60 smartphone series. Huawei launched the Mate 60 smartphone series last month with no pre-marketing events and has stayed mostly mum on its full capabilities. Users and analysts who bought the Mate 60 Pro said it had a Chinese-made chip and was capable of 5G speeds. He also said the company was working overtime and urgently manufacturing as many Mate 60 Pro smartphones as it could. While he did not discuss the Mate 60 smartphone series in detail, he announced the roll-out of a new ultra, high-end brand called 'Ultimate Design', whose products include a Mate 60 RS smartphone and a watch.

Persons: Yu Chengdong, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Yelin Mo, Brenda Goh, Himani Sarkar Organizations: Huawei Technologies, Huawei, Thomson Locations: BEIJING, SHANGHAI, China, Iran, U.S, Beijing, Washington

HANGZHOU, China, Sept 21 (Reuters) - China hopes to make a splash with the Asian Games, opening on Saturday, but nationwide excitement has been muted as the economy sputters and some locals question the cost of the sporting extravaganza. Organisers this week expressed confidence in holding a "magnificent" games, thanks to President Xi Jinping’s "important instructions" and great, broad-based efforts. "People care more about their own lives, and the Asian Games are not on the top of their list of concerns," Yan said. [1/4]A woman poses for pictures in front of statues of the three mascots of the 19th Asian Games Hangzhou 2022, near the Hangzhou Asian Games Village, in Zhejiang province, China September 20, 2023. "There's a saying online: 'The Hangzhou city government, when encountering even a dog, wishes they could catch it and give it a fresh coat of paint'."

Persons: Xi Jinping’s, Xi, Bashar al, Assad, John Yan, Yan, Jiang, It's, Mark Dreyer, Tingshu Wang, Wu Lili, Zhang, Jules Boycoff, it's, Dylan Martinez, Martin Quin Pollard, Xihao Jiang, William Mallard Organizations: Asian Games, COVID, Games, Sports, Beijing Olympics, Asian, Hangzhou, REUTERS, Pacific University, Thomson Locations: HANGZHOU, China, Hangzhou, Beijing, Zhejiang province, Zhejiang, Shanghai, U.S ., Oregon, West

☆ UBS says this is how to play China right now — and shares its top stock picks
▼ + stars: | 2023-08-31 | by ( Lucy Handley | ) www.cnbc.com time to read: +4 min

Analysts at UBS have detailed how to play a volatile Chinese market in the short term. Chinese internet giant Alibaba is on UBS' list, with the bank expecting it to grow faster than the overall Chinese stock market. "Potential stock price catalysts include growth from the cloud business, overseas expansion and greater operational discipline," the analysts wrote. Insurers with full pension licenses, such as Ping An, will likely enjoy a first mover advantage," the analysts wrote. Consumer stocks In consumer stocks, UBS likes Topsports International , which is Adidas ' largest retail partner globally, the bank said.

Persons: Gina Raimondo, — CNBC's Michael Bloom Organizations: UBS, Baidu, Ping An Insurance, Consumer, Topsports, Adidas, Shenzhou, Nike, KFC, China Longyuan Power, China Resources Power Locations: Asia, China

☆ China's richest people are leaning hard into quiet luxury, wielding stealth wealth like a weapon and scorning their flashy, label-chasing peers
▼ + stars: | 2023-08-26 | by ( Mary Hanbury | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +12 min

And rich Chinese people are leaning in, ditching "logo hunting" in favor of elegance, experts say. In a similar vein to the US and Europe – the "quiet luxury" aesthetic has emerged as a reaction to the economic climate. Chinese social media's got quiet luxury down to a sciencePeople have posted tutorials and photos on the “laoqian” style on China’s Pinterest-like site, Xiaohongshu. XiaohongshuTo be sure, there's being rich and looking rich, and the latter is where it's at on Chinese social media. WeiboSome influencers have also uploaded video tutorials on the "laoqian" style, to guide people on how best to dress for success.

Persons: that's, Dior, Gucci, Louis, Rich, Tom Wambsgan, Chukrut, you've, Javier Gonzalez Lastra, it's, Xi Jinping's, Milton Pedraza, Pedraza, media's, you'll, Richemont, Louis Vuittons, Thomaï Serdari, Joe, they're Organizations: Service, Bain, Co's, Burberry, Louis Vuitton, Getty, West, Ivy League, China Morning Post, Crazy, Luxury Institute, Twitter, NYU's Stern School of Business Locations: China, Wall, Silicon, America, bucketloads, Shanghai, Europe, Tema, Nanjing, Nikada, Beijing, Weibo

HONG KONG, Aug 15 (Reuters Breakingviews) - Hong Kong has lost some permanent appeal. The introduction of two sets of approvals was mandated three decades ago when foreign investors wanted additional protections to invest in the first wave of Chinese firms listing in Hong Kong. China's domestic securities laws have since developed and global investors can now directly buy shares onshore through various channels. That could lead to more onshore shares being issued relative to offshore shares, further diluting minority owners in Hong Kong. In 2020, Hong Kong shareholders vetoed the Bank of Zhengzhou's proposal to avoid such an outcome.

Persons: Hong Kong, HKEX, Una Galani, Thomas Shum Organizations: Reuters, Hong Kong Exchanges, HK, China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, Corporate Governance Association, China Life Insurance, Wall, Hong, Bank of, Companies, Global, Hang Seng China Enterprise Index, Graphics Global, Thomson Locations: HONG KONG, Hong Kong, China, Shanghai, Shenzhen, Hong

☆ China's Zhengzhou city launches property support measures
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File PhotoBEIJING, Aug 4 (Reuters) - China's Zhengzhou city has launched measures to support its property market, including easing home resale restrictions, in what analysts said were the first such moves by a big city heeding signals from policymakers. "Zhengzhou's property easing measures will most likely be warmly welcomed by markets, and we expect other tier-2 cities and even tier-1 cities to follow," said Nomura in a research note on Friday. "We are also concerned that merely easing restrictions on existing home sales without lifting restrictions on home purchase may add supply and depress home prices." On Thursday, China's central bank governor pledged to guide more financial resources towards private firms including property. Demand for the property sector, once a pillar of economic growth, has remained weak in recent weeks - property sales between May and June showed the largest monthly drop this year, based on sales by floor area.

Persons: Thomas Peter, Nomura, Liangping Gao, Ryan Woo, Himani Sarkar, Muralikumar Organizations: REUTERS, Communist Party, Thomson Locations: Zhengzhou, Henan province, China, BEIJING, China's, Henan

☆ China's biggest cities vow to introduce steps to boost property sector
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 31 (Reuters) - China's biggest cities including Beijing and Shenzhen said over the weekend they would implement measures to better meet the needs of homebuyers, without giving details, aiming to prop up a property sector that is seeing few signs of recovery. Markets have expected policymakers to signal more property stabilisation steps after the Politburo meeting. China's property sector has seen a string of debt defaults by cash-squeezed developers over the past few years with China Evergrande Group (3333.HK), the world's most indebted property developer, at the centre of the crisis. Beijing's housing ministry on Saturday night said it would take into account the city's real estate situation and work with relevant departments to implement the pledges of policymakers. Official newspaper Guangzhou Daily also reported on Sunday that Guangzhou's housing ministry had vowed to launch relevant policy measures as soon as possible.

Persons: Liangping Gao, Ryan Woo, Himani Sarkar Organizations: China Evergrande, HK, Official, Guangzhou Daily, Thomson Locations: BEIJING, Beijing, Shenzhen

☆ US citizen sentenced to life in prison for espionage - Chinese court
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 15 (Reuters) - A 78-year-old U.S. citizen and Hong Kong resident was on Monday convicted of espionage and sentenced to life imprisonment by a court in eastern China, a court statement said. The court added that Leung was a Hong Kong resident and a U.S. passport holder. The court gave no specifics of his alleged offence, but said: "Suzhou's National Security Bureau began investigating Leung on April 15, 2021, on suspicion of spying." Last week, U.S. national security adviser Jake Sullivan met China's top diplomat Wang Yi to try to keep open channels of communication and to stablise the relationship between the superpowers. Hong Kong and Chinese media outlets reported that Leung had once been a senior member of a Chinese patriotic group in the United States called the U.S.-China Friendship Promotion Association.

There was more movement in currency markets, where the dollar rose across the board and the yen sank. Producer price inflation is expected to have fallen further in March, according to analysts' estimates of a year-on-year decline of 2.5%, which would be the fastest pace of deflation since June 2020. The annual rate of consumer price inflation is expected to remain unchanged at 1.0%, the slowest in a year, and the monthly rate is expected to rise to 0% from -0.5% in February. If these forecasts are broadly accurate, price pressures in China would appear to be extremely benign, giving the central bank room to loosen policy and stimulate the economy. In South Korea, the central bank looks to have ended its tightening cycle and will likely keep its main interest rate on hold at a 15-year high of 3.50% on Tuesday.

☆ The TikTok hearing is mostly lawmakers berating the CEO and loudly asking 'Yes or no?' to detailed questions
▼ + stars: | 2023-03-23 | by ( Dan Whateley | Aaron Mok | ) www.businessinsider.com time to read: +4 min

TikTok CEO Shou Chew appeared before the House Committee on Energy and Commerce on Thursday. Chew's remarks were often cut short as Congress members pressed him for "yes" or "no" responses. "Welcome to the most bipartisan committee in Congress," Republican Rep. Earl LeRoy "Buddy" Carter said, addressing Chew as "Mr. Chew's responses to questions were often cut short as members of Congress asked for shorter "yes" or "no" responses. In the days leading up to the committee hearing, TikTok helped arrange a press conference with Democratic Rep. Jamaal Bowman that it described as a push "in support of free expression."

☆ A Chinese resident used ChatGPT to produce a viral government notice. Many were shocked to learn it was fake.
▼ + stars: | 2023-02-23 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Chinese residents were shocked to learn that ChatGPT wrote a viral notice, per Sixth Tone. But some Chinese residents have gotten access to the chatbot — even using it to spread misinformation. Chinese residents across social media were shocked to learn that a notice they thought was published by the city of Hangzhou's municipal government was actually generated by ChatGPT, Sixth Tone, a Chinese media outlet, reported. When the post went viral, many Chinese residents thought it was real. The incident spooked many Chinese residents, some of whom went to Weibo — a Chinese social media platform — to express their concerns.

☆ A stock trader who returned 440% in 2022 explains the software program he built to automatically buy and sell risky penny stocks for optimal profits
▼ + stars: | 2023-02-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He fed the computer 20 years worth of stock data to determine the relationship between data points. And I certainly would not suggest to people that you can just easily make 440% in the stock market. The program trades stocks ranging from pennies priced under $1 a share to large-caps and makes about 20 to 50 trades a day. About 20 minutes later, the market price rose and hit the sell order price of $0.3449 and the position closed. About 17 minutes later, the market price declined and hit the buy order price, and the position closed.

☆ Worried about Alibaba’s share price slump? Analysts name 4 alternatives in China tech
▼ + stars: | 2023-02-02 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

No Chinese tech stock has generated as much excitement as Alibaba , one of the most recognizable names in the Chinese internet sector. More than 76% of analysts covering the stock rate it a "buy," giving it average upside of 31%, according to FactSet data. Kuaishou is rated buy or overweight by 94% of analysts covering the stock, who give it average upside of around 24.4%. It is rated buy by 88% of analysts covering it, and has average upside of 37.7%, according to FactSet data. Rounding off the list is food delivery giant Meituan , with average upside of 32.5%.

[1/6] Police arrive at a protest against coronavirus disease (COVID-19) restrictions after a vigil for the victims of a fire in Urumqi, as outbreaks of COVID-19 continue, in Beijing, China, November 28, 2022. Social media posts said the clashes took place on Tuesday night and were caused by a dispute over lockdown curbs. In Zhengzhou, the site of a vast Foxconn factory making Apple iPhones that has been the scene of worker unrest over COVID, officials announced the "orderly" resumption of businesses, including supermarkets, gyms and restaurants. White House national security spokesperson John Kirby said on Tuesday that protesters in China should not be physically harmed or intimidated. The head of the International Monetary Fund Kristalina Georgieva flagged a possible downgrade in the fund's economic growth forecasts for China.

☆ China's 'iPhone city' is lifting its lockdown after a wave of protests over the strict policy
▼ + stars: | 2022-11-29 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Factory workers have been protesting against China's strict pandemic restrictions amid an Omicron surge. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyChina's "iPhone city" is ending its strict lockdown. Zhengzhou, a city in east-central China that is home to Apple's largest iPhone factory, Foxconn, is lifting its lockdown policy after five days, Bloomberg first reported, citing a WeChat post from the local government. The city made the announcement hours after officials in China said they would avoid strict restrictions, Bloomberg reports, after protests erupted in cities across the country against President Xi Jinping's zero-COVID policy. The protests threatened to impact Apple's iPhone output, with Bloomberg reporting that there could be a production shortage of almost six million iPhone Pros this year as a result.

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